Traders Buy Comcast Corp. (CMCSA) on Weakness
Traders purchased shares of Comcast Corp. (NASDAQ:CMCSA) on weakness during trading hours on Thursday. $138.36 million flowed into the stock on the tick-up and $72.47 million flowed out of the stock on the tick-down, for a money net flow of $65.89 million into the stock. Of all equities tracked, Comcast Corp. had the 7th highest net in-flow for the day. Comcast Corp. traded down ($0.06) for the day and closed at $67.86
CMCSA has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $72.00 price target on shares of Comcast Corp. in a research note on Wednesday, March 30th. Bank of America Corp. restated a “buy” rating and set a $84.00 price objective on shares of Comcast Corp. in a research note on Thursday, March 31st. Nomura upped their price objective on Comcast Corp. to $70.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Jefferies Group restated a “buy” rating on shares of Comcast Corp. in a research note on Tuesday, April 19th. Finally, Royal Bank Of Canada upped their price objective on Comcast Corp. from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Comcast Corp. presently has a consensus rating of “Buy” and an average target price of $70.61.
The stock’s 50-day moving average price is $65.01 and its 200 day moving average price is $60.94. The stock has a market capitalization of $164.71 billion and a PE ratio of 20.57.
Comcast Corp. (NASDAQ:CMCSA) last released its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. During the same period last year, the business earned $0.84 earnings per share. The firm had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corp. will post $3.51 earnings per share for the current year.
The firm 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 1.62%. The ex-dividend date of this dividend is Monday, October 3rd.
In other news, EVP Neil Smit sold 15,121 shares of Comcast Corp. stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $63.47, for a total value of $959,729.87. Following the completion of the transaction, the executive vice president now owns 110,885 shares in the company, valued at $7,037,870.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith Rodin sold 635 shares of Comcast Corp. stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $60.75, for a total transaction of $38,576.25. Following the completion of the transaction, the director now owns 14,947 shares of the company’s stock, valued at approximately $908,030.25. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC boosted its position in Comcast Corp. by 99.5% in the fourth quarter. BlackRock Advisors LLC now owns 14,145,070 shares of the cable giant’s stock worth $798,206,000 after buying an additional 7,055,323 shares during the period. Alta Park Capital LP purchased a new position in Comcast Corp. during the fourth quarter worth about $1,135,000. Utah Retirement Systems boosted its position in Comcast Corp. by 18.2% in the fourth quarter. Utah Retirement Systems now owns 449,157 shares of the cable giant’s stock worth $25,346,000 after buying an additional 69,000 shares during the period. KBC Group NV boosted its position in Comcast Corp. by 25.9% in the fourth quarter. KBC Group NV now owns 1,058,053 shares of the cable giant’s stock worth $59,706,000 after buying an additional 217,361 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in Comcast Corp. by 3.2% in the fourth quarter. State of Tennessee Treasury Department now owns 1,709,816 shares of the cable giant’s stock worth $96,485,000 after buying an additional 53,520 shares during the period.
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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