TRUE Private Wealth Advisors increased its stake in Comcast Co. (NASDAQ:CMCSA) by 6.5% during the third quarter, HoldingsChannel.com reports. The firm owned 53,283 shares of the cable giant’s stock after purchasing an additional 3,240 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Comcast were worth $1,887,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in CMCSA. Massachusetts Financial Services Co. MA raised its holdings 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 purchasing an additional 12,823,994 shares during the period. FMR LLC raised its holdings 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 purchasing an additional 7,812,415 shares during the period. Bank of Montreal Can raised its holdings in Comcast by 43.9% in the 3rd quarter. Bank of Montreal Can now owns 22,597,172 shares of the cable giant’s stock worth $800,167,000 after purchasing an additional 6,893,674 shares during the period. Natixis bought a new position in Comcast in the 2nd quarter worth $147,520,000. Finally, Canyon Capital Advisors LLC bought a new position in Comcast in the 2nd quarter worth $147,645,000. 80.27% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on CMCSA shares. Raymond James raised Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Robert W. Baird cut their price target on Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Monday, July 30th. Pivotal Research reiterated a “buy” rating and issued a $48.00 price target on shares of Comcast in a research note on Monday, July 30th. UBS Group lowered Comcast from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Finally, ValuEngine upgraded Comcast from a “strong sell” rating to a “sell” rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.84.
In other news, EVP Arthur R. Block sold 1,082 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares in the company, valued at $2,245,387.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur R. Block sold 6,448 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the transaction, the executive vice president now owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
Shares of Comcast stock opened at $35.94 on Friday. The stock has a market cap of $169.06 billion, a PE ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.19. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. Comcast Co. has a twelve month low of $30.43 and a twelve month high of $44.00.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 26th. The cable giant reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.85 billion. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. Analysts anticipate that Comcast Co. will post 2.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.11%. Comcast’s payout ratio is 36.89%.
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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