First Interstate Bank Sells 343 Shares of Comcast Corp. (CMCSA)
First Interstate Bank cut its position in shares of Comcast Corp. (NASDAQ:CMCSA) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 10,522 shares of the cable giant’s stock after selling 343 shares during the period. First Interstate Bank’s holdings in Comcast Corp. were worth $686,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its position in shares of Comcast Corp. by 64.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,605 shares of the cable giant’s stock worth $105,000 after buying an additional 630 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock worth $107,000 after buying an additional 326 shares in the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Comcast Corp. during the second quarter worth $115,000. Proficio Capital Partners LLC raised its position in shares of Comcast Corp. by 80.1% in the second quarter. Proficio Capital Partners LLC now owns 1,704 shares of the cable giant’s stock worth $116,000 after buying an additional 758 shares in the last quarter. Finally, Hudock Capital Group LLC raised its position in shares of Comcast Corp. by 21.2% in the second quarter. Hudock Capital Group LLC now owns 1,904 shares of the cable giant’s stock worth $124,000 after buying an additional 333 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.
Comcast Corp. (NASDAQ:CMCSA) traded up 0.47% during trading on Wednesday, reaching $66.54. The company had a trading volume of 3,309,900 shares. The firm has a market capitalization of $160.48 billion, a price-to-earnings ratio of 20.23 and a beta of 1.00. The stock has a 50 day moving average price of $66.35 and a 200 day moving average price of $63.59. Comcast Corp. has a 12 month low of $52.34 and a 12 month high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last issued its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $18.74 billion for the quarter, compared to analysts’ expectations of $19.11 billion. Comcast Corp. had a return on equity of 15.04% and a net margin of 10.70%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, equities research analysts predict that Comcast Corp. will post $3.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s payout ratio is 33.43%.
A number of research analysts recently weighed in on the company. RBC Capital Markets reaffirmed an “outperform” rating and set a $72.00 price objective (up previously from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Pivotal Research reaffirmed a “buy” rating on shares of Comcast Corp. in a report on Thursday, July 28th. Pacific Crest upped their price objective on Comcast Corp. from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Jefferies Group upped their price objective on Comcast Corp. from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Royal Bank Of Canada upped their price objective on Comcast Corp. from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $71.83.
In other news, EVP Neil Smit sold 15,121 shares of Comcast Corp. stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $65.68, for a total transaction of $993,147.28. Following the transaction, the executive vice president now owns 66,289 shares in the company, valued at $4,353,861.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Brian L. Roberts sold 304,109 shares of Comcast Corp. stock in a transaction on Friday, July 29th. The shares were sold at an average price of $67.26, for a total value of $20,454,371.34. Following the transaction, the chairman now owns 630,596 shares in the company, valued at approximately $42,413,886.96. The disclosure for this sale can be found here. 1.27% of the stock is owned by corporate insiders.
About Comcast Corp.
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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