Traders Buy Shares of Comcast Corp. (CMCSA) on Weakness
Traders bought shares of Comcast Corp. (NASDAQ:CMCSA) on weakness during trading 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 analysts recently weighed in on the company. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $70.00 target price on shares of Comcast Corp. in a research report on Monday, July 11th. Barclays PLC reissued an “overweight” rating and set a $69.00 price target (up from $65.00) on shares of Comcast Corp. in a report on Sunday, July 10th. Pivotal Research raised 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. Robert W. Baird reissued an “outperform” rating and set a $67.00 price target on shares of Comcast Corp. in a report on Tuesday, June 28th. Finally, Nomura Research reissued a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $69.94.
The stock’s 50 day moving average price is $64.02 and its 200 day moving average price is $60.22. The stock has a market capitalization of $162.33 billion and a PE ratio of 20.27.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, April 27th. The cable giant reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.05. The company earned $17.85 billion during the quarter, compared to analysts’ expectations of $18.68 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Comcast Corp. will post $3.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, July 1st.
In other Comcast Corp. news, EVP Arthur R. Block sold 1,002 shares of the stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $61.25, for a total value of $61,372.50. Following the completion of the sale, the executive vice president now owns 46,374 shares in the company, valued at approximately $2,840,407.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen B. Burke sold 75,000 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $62.05, for a total transaction of $4,653,750.00. Following the completion of the sale, the executive vice president now owns 510,737 shares of the company’s stock, valued at approximately $31,691,230.85. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Comcast Corp. by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 141,619,264 shares of the cable giant’s stock worth $7,991,575,000 after buying an additional 12,505,696 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Comcast Corp. by 23.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,227,193 shares of the cable giant’s stock worth $1,592,906,000 after buying an additional 5,356,393 shares during the last quarter. Veritas Asset Management LLP increased its stake in Comcast Corp. by 3.1% in the fourth quarter. Veritas Asset Management LLP now owns 12,191,122 shares of the cable giant’s stock worth $687,945,000 after buying an additional 364,705 shares during the last quarter. Egerton Capital UK LLP increased its stake in Comcast Corp. by 17.5% in the fourth quarter. Egerton Capital UK LLP now owns 10,655,021 shares of the cable giant’s stock worth $601,263,000 after buying an additional 1,587,120 shares during the last quarter. Finally, Boston Partners increased its stake in Comcast Corp. by 2.1% in the fourth quarter. Boston Partners now owns 8,084,685 shares of the cable giant’s stock worth $456,219,000 after buying an additional 167,579 shares during the last quarter.
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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