Conning Inc. lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 0.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 116,844 shares of the cable giant’s stock after selling 1,070 shares during the period. Conning Inc.’s holdings in Comcast were worth $4,671,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acima Private Wealth LLC bought a new stake in shares of Comcast during the 4th quarter valued at about $25,000. Litman Gregory Asset Management LLC bought a new stake in shares of Comcast during the 4th quarter valued at about $30,000. Ironwood Financial llc bought a new stake in shares of Comcast during the 4th quarter valued at about $32,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Comcast during the 4th quarter valued at about $46,000. Finally, Ipswich Investment Management Co. Inc. bought a new stake in shares of Comcast during the 4th quarter valued at about $52,000. 81.61% of the stock is owned by institutional investors.
CMCSA has been the subject of a number of recent research reports. TD Securities boosted their price objective on shares of Comcast from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. BidaskClub lowered shares of Comcast from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Credit Suisse Group reissued a “buy” rating and set a $44.00 target price on shares of Comcast in a research note on Tuesday, January 22nd. ValuEngine raised shares of Comcast from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Macquarie raised shares of Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.65.
In other news, EVP Arthur R. Block sold 1,967 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $40.23, for a total value of $79,132.41. Following the completion of the sale, the executive vice president now directly owns 62,088 shares of the company’s stock, valued at approximately $2,497,800.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen B. Burke sold 457,633 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the sale, the executive vice president now directly owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,214,832 shares of company stock valued at $49,408,359. Company insiders own 1.35% of the company’s stock.
Shares of NASDAQ:CMCSA opened at $42.49 on Thursday. The company has a market capitalization of $196.37 billion, a PE ratio of 16.66, a P/E/G ratio of 1.14 and a beta of 1.13. Comcast Co. has a twelve month low of $30.67 and a twelve month high of $43.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.38.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $26.86 billion during the quarter, compared to analyst estimates of $27.27 billion. Comcast had a net margin of 12.34% and a return on equity of 17.04%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Equities analysts forecast that Comcast Co. will post 2.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, July 2nd. Comcast’s dividend payout ratio is currently 32.94%.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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