Traders Buy Shares of Comcast Corp. (CMCSA) on Weakness
Investors purchased shares of Comcast Corp. (NASDAQ:CMCSA) on weakness during trading on Wednesday. $100.91 million flowed into the stock on the tick-up and $55.52 million flowed out of the stock on the tick-down, for a money net flow of $45.39 million into the stock. Of all stocks tracked, Comcast Corp. had the 13th highest net in-flow for the day. Comcast Corp. traded down ($0.06) for the day and closed at $66.84
A number of equities analysts have recently commented on the stock. Pacific Crest reaffirmed a “buy” rating on shares of Comcast Corp. in a report on Sunday, May 22nd. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $63.00 price objective on shares of Comcast Corp. in a report on Wednesday, June 1st. RBC Capital Markets reiterated an “outperform” rating and set a $72.00 target price (up previously from $70.00) on shares of Comcast Corp. in a research report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating on shares of Comcast Corp. in a research report on Thursday, April 28th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $71.11.
The firm has a 50-day moving average of $65.52 and a 200-day moving average of $61.35. The stock has a market cap of $161.21 billion and a price-to-earnings ratio of 20.32.
Comcast Corp. (NASDAQ:CMCSA) last posted its earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company earned $18.74 billion during the quarter, compared to the consensus estimate of $19.11 billion. During the same period last year, the company posted $0.84 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corp. will post $3.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.275 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%.
In other news, Chairman Brian L. Roberts sold 304,109 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $67.26, for a total value of $20,454,371.34. Following the completion of the transaction, the chairman now owns 630,596 shares of the company’s stock, valued at $42,413,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neil Smit sold 29,475 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $67.86, for a total value of $2,000,173.50. Following the completion of the transaction, the executive vice president now directly owns 81,410 shares of the company’s stock, valued at approximately $5,524,482.60. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in the stock. Howland Capital Management LLC increased its stake in Comcast Corp. by 63.8% in the fourth quarter. Howland Capital Management LLC now owns 18,271 shares of the cable giant’s stock worth $1,031,000 after buying an additional 7,117 shares in the last quarter. Northeast Financial Consultants Inc purchased a new stake in Comcast Corp. during the fourth quarter worth $1,047,000. Homrich & Berg increased its stake in Comcast Corp. by 106.1% in the fourth quarter. Homrich & Berg now owns 18,875 shares of the cable giant’s stock worth $1,065,000 after buying an additional 9,715 shares in the last quarter. Whalerock Point Partners LLC increased its stake in Comcast Corp. by 6.4% in the fourth quarter. Whalerock Point Partners LLC now owns 18,981 shares of the cable giant’s stock worth $1,071,000 after buying an additional 1,150 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Comcast Corp. by 22.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 19,065 shares of the cable giant’s stock worth $1,075,000 after buying an additional 3,455 shares in 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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