Comcast Corp. (CMCSA) Stake Cut by Waverton Investment Management Ltd
Waverton Investment Management Ltd reduced its stake in shares of Comcast Corp. (NASDAQ:CMCSA) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 97,242 shares of the cable giant’s stock after selling 1,914 shares during the period. Waverton Investment Management Ltd’s holdings in Comcast Corp. were worth $6,339,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Oakworth Capital Inc. raised its stake 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 valued at $107,000 after buying an additional 326 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in shares of Comcast Corp. during the second quarter valued at approximately $115,000. CWM LLC raised its stake in shares of Comcast Corp. by 25.1% in the second quarter. CWM LLC now owns 2,051 shares of the cable giant’s stock valued at $134,000 after buying an additional 411 shares in the last quarter. City Holding Co. raised its stake in shares of Comcast Corp. by 6.0% in the second quarter. City Holding Co. now owns 2,169 shares of the cable giant’s stock valued at $141,000 after buying an additional 122 shares in the last quarter. Finally, Kanaly Trust Co raised its stake in shares of Comcast Corp. by 4.0% in the second quarter. Kanaly Trust Co now owns 2,369 shares of the cable giant’s stock valued at $154,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.
Comcast Corp. (NASDAQ:CMCSA) traded up 0.69% during midday trading on Monday, hitting $65.81. The stock had a trading volume of 4,272,762 shares. The company has a market cap of $158.72 billion, a P/E ratio of 20.01 and a beta of 1.05. Comcast Corp. has a one year low of $52.34 and a one year high of $68.36. The stock’s 50-day moving average is $65.97 and its 200-day moving average is $64.18.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business earned $18.74 billion during the quarter, compared to analysts’ expectations of $19.11 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s dividend payout ratio is currently 33.43%.
Several equities research analysts have recently weighed in on CMCSA shares. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $70.00 target price on shares of Comcast Corp. in a research report on Monday, July 11th. RBC Capital Markets reissued an “outperform” rating and issued a $72.00 price target (up previously from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Jefferies Group increased their price target on Comcast Corp. from $72.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Robert W. Baird reissued an “outperform” rating and issued a $67.00 price target on shares of Comcast Corp. in a report on Tuesday, June 28th. Finally, Pacific Crest increased their price target on Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Comcast Corp. currently has a consensus rating of “Buy” and an average target price of $72.00.
In related news, Chairman Brian L. Roberts sold 304,109 shares of the company’s 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 completion of the transaction, the chairman now directly owns 630,596 shares of the company’s stock, valued at approximately $42,413,886.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur R. Block sold 1,023 shares of the company’s stock in a transaction on Friday, September 16th. The stock was 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 of the company’s stock, valued at $3,125,689.25. The disclosure for this sale can be found here. 1.27% of the stock is currently 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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