Laurel Grove Capital LLC lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,500 shares of the cable giant’s stock after selling 5,100 shares during the quarter. Laurel Grove Capital LLC’s holdings in Comcast were worth $1,151,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Blue Pool Management Ltd. grew its holdings in Comcast by 65.8% during the first quarter. Blue Pool Management Ltd. now owns 43,100 shares of the cable giant’s stock valued at $1,473,000 after purchasing an additional 17,100 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Comcast in the first quarter worth $9,266,000. Cornercap Investment Counsel Inc. grew its stake in shares of Comcast by 1.0% in the first quarter. Cornercap Investment Counsel Inc. now owns 194,102 shares of the cable giant’s stock worth $6,633,000 after acquiring an additional 1,883 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Comcast by 2.5% in the first quarter. Blair William & Co. IL now owns 469,057 shares of the cable giant’s stock worth $16,028,000 after acquiring an additional 11,357 shares during the last quarter. Finally, Ostrum Asset Management acquired a new stake in shares of Comcast in the first quarter worth $1,632,000. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CMCSA. Oppenheimer restated a “market perform” rating and issued a $42.00 price objective on shares of Comcast in a research note on Monday, September 24th. UBS Group downgraded shares of Comcast from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Pivotal Research restated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a research note on Thursday, September 20th. ValuEngine upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research note on Monday, September 17th. Finally, TD Securities lowered their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company. Comcast currently has a consensus rating of “Buy” and an average price target of $44.96.
In other Comcast news, EVP Arthur R. Block sold 6,448 shares of Comcast stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at $2,648,369.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 1,082 shares of Comcast stock in a transaction on Monday, September 24th. The shares were sold at an average price of $35.94, for a total value of $38,887.08. Following the transaction, the executive vice president now directly owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by company insiders.
CMCSA opened at $34.62 on Friday. The firm has a market cap of $164.46 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. Comcast Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 26th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, sell-side analysts anticipate that Comcast Co. will post 2.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.20%. Comcast’s payout ratio is presently 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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