Abner Herrman & Brock LLC increased its stake in Comcast Co. (NASDAQ:CMCSA) by 45.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,691 shares of the cable giant’s stock after acquiring an additional 58,341 shares during the period. Abner Herrman & Brock LLC’s holdings in Comcast were worth $8,371,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. USS Investment Management Ltd boosted its holdings in Comcast by 7.3% during the first quarter. USS Investment Management Ltd now owns 6,208,145 shares of the cable giant’s stock worth $248,109,000 after buying an additional 423,687 shares in the last quarter. Palladium Partners LLC raised its holdings in Comcast by 2.5% in the 1st quarter. Palladium Partners LLC now owns 377,209 shares of the cable giant’s stock valued at $15,081,000 after buying an additional 9,063 shares during the last quarter. Smith Salley & Associates raised its holdings in Comcast by 9.6% in the 1st quarter. Smith Salley & Associates now owns 8,228 shares of the cable giant’s stock valued at $329,000 after buying an additional 723 shares during the last quarter. Independence Advisors LLC raised its holdings in Comcast by 28.5% in the 1st quarter. Independence Advisors LLC now owns 10,840 shares of the cable giant’s stock valued at $433,000 after buying an additional 2,405 shares during the last quarter. Finally, South Dakota Investment Council raised its holdings in Comcast by 12.5% in the 1st quarter. South Dakota Investment Council now owns 991,730 shares of the cable giant’s stock valued at $39,649,000 after buying an additional 109,920 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.
CMCSA has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Comcast from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Benchmark initiated coverage on Comcast in a research note on Wednesday, September 25th. They set a “buy” rating and a $64.00 target price on the stock. Goldman Sachs Group upgraded Comcast from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $54.00 in a research note on Wednesday, July 10th. Oppenheimer upgraded Comcast from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Thursday, September 5th. Finally, Rosenblatt Securities initiated coverage on Comcast in a research note on Friday, June 14th. They set a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.70.
NASDAQ CMCSA traded up $0.89 during trading on Friday, hitting $45.39. 6,031,279 shares of the stock traded hands, compared to its average volume of 16,185,189. The company has a market capitalization of $200.48 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The firm has a 50-day simple moving average of $45.06 and a 200-day simple moving average of $43.15. Comcast Co. has a 12-month low of $32.61 and a 12-month high of $47.27.
Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The business had revenue of $26.86 billion during the quarter, compared to analyst estimates of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. Comcast’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. As a group, research analysts predict that Comcast Co. will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, October 1st. Comcast’s dividend payout ratio (DPR) is presently 32.94%.
In other news, SVP Daniel C. Murdock sold 848 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total value of $37,507.04. Following the completion of the transaction, the senior vice president now directly owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth J. Bacon sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the completion of the transaction, the director now directly owns 29,603 shares of the company’s stock, valued at $1,333,023.09. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.
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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