Traders Buy Shares of Comcast Corp. (CMCSA) on Weakness
Traders purchased shares of Comcast Corp. (NASDAQ:CMCSA) on weakness during trading hours on Friday. $113.86 million flowed into the stock on the tick-up and $50.83 million flowed out of the stock on the tick-down, for a money net flow of $63.03 million into the stock. Of all equities tracked, Comcast Corp. had the 23rd highest net in-flow for the day. Comcast Corp. traded down ($0.14) for the day and closed at $66.88
Several equities research analysts have commented on the company. Barclays PLC reissued an “overweight” rating and issued a $69.00 target price (up from $65.00) on shares of Comcast Corp. in a report on Sunday, July 10th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $70.00 price target on shares of Comcast Corp. in a report on Monday. Pivotal Research upped their price target on Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 7th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $63.00 price target on shares of Comcast Corp. in a report on Wednesday, June 1st. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Comcast Corp. in a report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Comcast Corp. currently has an average rating of “Buy” and a consensus target price of $69.94.
The stock’s 50 day moving average is $64.02 and its 200-day moving average is $60.22. The company has a market capitalization of $162.33 billion and a price-to-earnings ratio of 20.27.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, April 27th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. During the same period in the previous year, the company posted $0.79 EPS. The business earned $17.85 billion during the quarter, compared to analyst estimates of $18.68 billion. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corp. will post $3.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, July 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.64%.
In other Comcast Corp. news, EVP Arthur R. Block sold 1,002 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $61.25, for a total transaction of $61,372.50. Following the completion of the sale, the executive vice president now directly owns 46,374 shares in the company, valued at approximately $2,840,407.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth J. Bacon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $62.82, for a total value of $157,050.00. Following the sale, the director now owns 14,100 shares of the company’s stock, valued at $885,762. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in Comcast Corp. by 0.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 136,670 shares of the cable giant’s stock valued at $7,712,000 after buying an additional 900 shares during the period. Chicago Equity Partners LLC raised its stake in Comcast Corp. by 3.0% in the fourth quarter. Chicago Equity Partners LLC now owns 205,148 shares of the cable giant’s stock valued at $11,577,000 after buying an additional 5,925 shares during the period. TD Asset Management Inc. raised its stake in Comcast Corp. by 19.3% in the fourth quarter. TD Asset Management Inc. now owns 2,272,382 shares of the cable giant’s stock valued at $128,231,000 after buying an additional 367,809 shares during the period. Tdam USA Inc. raised its stake in Comcast Corp. by 20.8% in the fourth quarter. Tdam USA Inc. now owns 68,918 shares of the cable giant’s stock valued at $3,889,000 after buying an additional 11,880 shares during the period. Finally, Ardevora Asset Management LLP raised its stake in Comcast Corp. by 186.6% in the fourth quarter. Ardevora Asset Management LLP now owns 275,709 shares of the cable giant’s stock valued at $15,558,000 after buying an additional 179,500 shares during the period.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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