Blume Capital Management Inc. decreased its position in Comcast Co. (NASDAQ:CMCSA) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,028 shares of the cable giant’s stock after selling 1,700 shares during the quarter. Comcast comprises approximately 4.1% of Blume Capital Management Inc.’s holdings, making the stock its 6th largest position. Blume Capital Management Inc.’s holdings in Comcast were worth $7,756,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Bank of The West lifted its holdings in shares of Comcast by 3.1% in the third quarter. Bank of The West now owns 343,858 shares of the cable giant’s stock valued at $12,176,000 after buying an additional 10,371 shares during the period. Canandaigua National Bank & Trust Co. raised its position in shares of Comcast by 8.1% during the third quarter. Canandaigua National Bank & Trust Co. now owns 75,159 shares of the cable giant’s stock worth $2,661,000 after purchasing an additional 5,602 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Comcast during the third quarter worth $563,000. Cadence Capital Management LLC raised its position in shares of Comcast by 15.6% during the third quarter. Cadence Capital Management LLC now owns 290,738 shares of the cable giant’s stock worth $10,295,000 after purchasing an additional 39,171 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in shares of Comcast by 3.8% during the third quarter. Gamco Investors INC. ET AL now owns 1,414,939 shares of the cable giant’s stock worth $50,103,000 after purchasing an additional 51,852 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.
NASDAQ:CMCSA opened at $38.34 on Friday. The firm has a market cap of $177.88 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. Comcast Co. has a 1-year low of $30.43 and a 1-year high of $44.00. 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 (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The company had revenue of $22.14 billion for the quarter, compared to analyst estimates of $21.75 billion. Equities research analysts predict that Comcast Co. will post 2.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, December 31st. Comcast’s payout ratio is currently 36.89%.
In other Comcast news, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the transaction, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the transaction, the executive vice president now directly owns 62,476 shares in the company, valued at $2,245,387.44. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
A number of brokerages have recently issued reports on CMCSA. Pivotal Research reaffirmed a “buy” rating on shares of Comcast in a research report on Friday, August 10th. Atlantic Securities raised Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research report on Monday, August 6th. ValuEngine raised Comcast from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Oppenheimer reaffirmed a “market perform” rating and set a $42.00 target price on shares of Comcast in a research report on Monday, September 24th. Finally, Scotiabank set a $48.00 target price on Comcast and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average 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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