Arrow Investment Advisors LLC Invests $763,000 in Comcast Corp. (CMCSA)
Arrow Investment Advisors LLC bought a new position in Comcast Corp. (NASDAQ:CMCSA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,707 shares of the cable giant’s stock, valued at approximately $763,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redwood Investments LLC raised its position in Comcast Corp. by 4.1% in the second quarter. Redwood Investments LLC now owns 411,510 shares of the cable giant’s stock worth $26,826,000 after buying an additional 16,144 shares during the period. Burke & Herbert Bank & Trust Co. raised its position in Comcast Corp. by 3.3% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 10,422 shares of the cable giant’s stock worth $679,000 after buying an additional 330 shares during the period. Standard Life Investments LTD raised its position in Comcast Corp. by 27.8% in the second quarter. Standard Life Investments LTD now owns 4,391,075 shares of the cable giant’s stock worth $286,297,000 after buying an additional 956,370 shares during the period. Advisory Services Network LLC raised its position in Comcast Corp. by 3.7% in the second quarter. Advisory Services Network LLC now owns 7,368 shares of the cable giant’s stock worth $480,000 after buying an additional 262 shares during the period. Finally, Private Wealth Partners LLC raised its position in Comcast Corp. by 21.2% in the second quarter. Private Wealth Partners LLC now owns 6,300 shares of the cable giant’s stock worth $411,000 after buying an additional 1,100 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during midday trading on Friday, reaching $65.36. 7,471,618 shares of the company were exchanged. The stock’s 50-day moving average price is $66.01 and its 200-day moving average price is $64.15. The company has a market capitalization of $157.64 billion, a PE ratio of 19.87 and a beta of 1.05. Comcast Corp. has a 52-week low of $52.34 and a 52-week high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. Comcast Corp.’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Analysts anticipate that Comcast Corp. will post $3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s dividend payout ratio is currently 33.43%.
CMCSA has been the topic of several analyst reports. Nomura lifted their price target on shares of Comcast Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $67.00 price target on shares of Comcast Corp. in a research report on Tuesday, June 28th. Pivotal Research lifted their price target on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 7th. Barclays PLC reaffirmed an “overweight” rating and set a $69.00 price target (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $70.00 price target 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 given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.00.
In other news, EVP Neil Smit sold 29,475 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 81,410 shares of the company’s stock, valued at approximately $5,524,482.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 1,023 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $65.75, for a total transaction 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 approximately $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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