Edge Asset Management Inc. Boosts Stake in Comcast Corp. (CMCSA)
Edge Asset Management Inc. raised its stake in Comcast Corp. (NASDAQ:CMCSA) by 9.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 636,480 shares of the cable giant’s stock after buying an additional 55,064 shares during the period. Edge Asset Management Inc.’s holdings in Comcast Corp. were worth $41,492,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CMCSA. Raymond James Trust N.A. boosted its stake in shares of Comcast Corp. by 4.1% in the first quarter. Raymond James Trust N.A. now owns 118,349 shares of the cable giant’s stock valued at $7,228,000 after buying an additional 4,710 shares during the period. Tompkins Financial Corp boosted its stake in shares of Comcast Corp. by 13.8% in the first quarter. Tompkins Financial Corp now owns 12,215 shares of the cable giant’s stock valued at $746,000 after buying an additional 1,485 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Comcast Corp. by 11.8% in the first quarter. Carroll Financial Associates Inc. now owns 4,543 shares of the cable giant’s stock valued at $277,000 after buying an additional 480 shares during the period. Boston Advisors LLC boosted its stake in shares of Comcast Corp. by 5.5% in the first quarter. Boston Advisors LLC now owns 955,298 shares of the cable giant’s stock valued at $58,350,000 after buying an additional 49,455 shares during the period. Finally, V Wealth Management LLC purchased a new stake in shares of Comcast Corp. during the first quarter valued at $2,032,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.10% during midday trading on Friday, hitting $67.23. 3,766,557 shares of the company’s stock traded hands. The stock has a market cap of $162.15 billion, a P/E ratio of 20.44 and a beta of 1.00. Comcast Corp. has a 52 week low of $52.34 and a 52 week high of $68.36. The company has a 50 day moving average of $66.37 and a 200 day moving average of $63.64.
Comcast Corp. (NASDAQ:CMCSA) last announced its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. Comcast Corp. had a return on equity of 15.04% and a net margin of 10.70%. The firm earned $18.74 billion during the quarter, compared to analyst estimates of $19.11 billion. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.63%. Comcast Corp.’s payout ratio is presently 33.43%.
Several brokerages recently weighed in on CMCSA. RBC Capital Markets reaffirmed an “outperform” rating and issued a $72.00 target price (up previously from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Nomura reaffirmed a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. Pivotal Research raised their target price on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 7th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $70.00 target price on shares of Comcast Corp. in a report on Monday, July 11th. Finally, Royal Bank Of Canada increased their price target on shares of Comcast Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Comcast Corp. currently has a consensus rating of “Buy” and an average target price of $71.87.
In related news, EVP Neil Smit sold 29,475 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $67.86, for a total value of $2,000,173.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 1,023 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $65.75, for a total value of $67,262.25. Following the completion of the transaction, the executive vice president now directly owns 47,539 shares in the company, valued at $3,125,689.25. The disclosure for this sale can be found here. Company insiders own 1.27% of the company’s stock.
Comcast Corp. Company Profile
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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