Cadence Capital Management LLC grew its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 15.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 290,738 shares of the cable giant’s stock after buying an additional 39,171 shares during the period. Cadence Capital Management LLC’s holdings in Comcast were worth $10,295,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WP Advisors LLC purchased a new stake in Comcast during the 2nd quarter worth $105,000. Prentiss Smith & Co. Inc. boosted its position in Comcast by 229.5% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock worth $108,000 after purchasing an additional 2,295 shares during the period. IMA Wealth Inc. purchased a new stake in Comcast during the 2nd quarter worth $108,000. Acropolis Investment Management LLC purchased a new stake in Comcast during the 3rd quarter worth $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Comcast during the 2nd quarter worth $129,000. 80.39% of the stock is owned by institutional investors.
Shares of Comcast stock opened at $38.30 on Friday. The stock has a market capitalization of $175.24 billion, a PE ratio of 15.66, a P/E/G ratio of 1.19 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00.
Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $22.14 billion for the quarter, compared to analyst estimates of $21.75 billion. Comcast had a net margin of 27.33% and a return on equity of 15.79%. Sell-side analysts forecast that Comcast Co. will post 2.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.98%. Comcast’s dividend payout ratio (DPR) is presently 36.89%.
In related news, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the sale, the executive vice president now owns 62,476 shares of the company’s stock, valued at approximately $2,245,387.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now directly 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. Corporate insiders own 1.31% of the company’s stock.
A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Comcast in a report on Thursday. They issued an “overweight” rating and a $46.00 price objective on the stock. BidaskClub lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Thursday. Scotiabank set a $48.00 price objective on shares of Comcast and gave the stock a “buy” rating in a report on Wednesday, October 31st. Oppenheimer reiterated a “market perform” rating and issued a $42.00 price objective on shares of Comcast in a report on Monday, September 24th. Finally, UBS Group lowered shares of Comcast from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.57.
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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