Ingalls & Snyder LLC lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,459 shares of the cable giant’s stock after selling 7,400 shares during the period. Ingalls & Snyder LLC’s holdings in Comcast were worth $1,885,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CMCSA. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Comcast by 108.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock worth $1,158,311,000 after buying an additional 17,663,290 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Comcast by 9.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock worth $4,864,907,000 after buying an additional 12,823,994 shares in the last quarter. BlackRock Inc. grew its stake in Comcast by 2.5% in the 1st quarter. BlackRock Inc. now owns 323,455,630 shares of the cable giant’s stock worth $11,052,476,000 after buying an additional 7,922,120 shares in the last quarter. FMR LLC grew its stake in Comcast by 7.5% in the 2nd quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock worth $3,669,961,000 after buying an additional 7,812,415 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Comcast by 24.1% in the 1st quarter. Franklin Resources Inc. now owns 37,387,405 shares of the cable giant’s stock worth $1,277,535,000 after buying an additional 7,257,371 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.
NASDAQ:CMCSA opened at $36.28 on Thursday. Comcast Co. has a 52 week low of $30.43 and a 52 week high of $44.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $171.80 billion, a P/E ratio of 16.22, a PEG ratio of 1.19 and a beta of 1.20.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 26th. The cable giant reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. equities research analysts expect that Comcast Co. will post 2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 2.09%. Comcast’s dividend payout ratio is currently 36.89%.
In related news, SVP Daniel C. Murdock sold 1,694 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $31.05, for a total transaction of $52,598.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.31% of the company’s stock.
A number of brokerages have recently weighed in on CMCSA. Pivotal Research restated a “buy” rating on shares of Comcast in a report on Friday, August 10th. Atlantic Securities upgraded shares of Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Monday, August 6th. Robert W. Baird lowered their price objective on shares of Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Raymond James upgraded shares of Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group began coverage on shares of Comcast in a report on Tuesday, July 10th. They issued a “neutral” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $45.79.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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