Traders Sell Comcast Corp. (CMCSA) on Strength (CMCSA)
Traders sold shares of Comcast Corp. (NASDAQ:CMCSA) on strength during trading hours on Wednesday. $109.98 million flowed into the stock on the tick-up and $155.27 million flowed out of the stock on the tick-down, for a money net flow of $45.29 million out of the stock. Of all companies tracked, Comcast Corp. had the 0th highest net out-flow for the day. Comcast Corp. traded up $0.74 for the day and closed at $67.92
Several equities analysts have issued reports on CMCSA shares. Pivotal Research boosted their target price on Comcast Corp. from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Wells Fargo & Co. reiterated a “buy” rating on shares of Comcast Corp. in a research report on Monday, July 18th. Barclays PLC reiterated an “overweight” rating and set a $69.00 target price (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Nomura boosted their price target on Comcast Corp. to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $72.00 price target on shares of Comcast Corp. in a research note on Wednesday, March 30th. 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 given a strong buy rating to the stock. Comcast Corp. currently has a consensus rating of “Buy” and a consensus price target of $69.94.
The firm’s 50 day moving average is $64.88 and its 200 day moving average is $60.89. The firm has a market capitalization of $164.86 billion and a P/E ratio of 20.59.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. During the same period in the prior year, the business posted $0.84 EPS. The firm earned $18.74 billion during the quarter, compared to analyst estimates of $19.11 billion. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts predict that Comcast Corp. will post $3.51 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 paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, October 3rd.
In related news, EVP Neil Smit sold 15,121 shares of Comcast Corp. stock in a transaction 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 sale, the executive vice president now owns 110,885 shares of the company’s stock, valued at approximately $7,037,870.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen B. Burke sold 75,000 shares of Comcast Corp. stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $62.05, for a total transaction of $4,653,750.00. Following the completion of the sale, the executive vice president now directly owns 510,737 shares of the company’s stock, valued at approximately $31,691,230.85. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake 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 valued at $798,206,000 after buying an additional 7,055,323 shares during the last quarter. Alta Park Capital LP acquired a new stake in Comcast Corp. during the fourth quarter valued at about $1,135,000. Utah Retirement Systems raised its stake in Comcast Corp. by 18.2% in the fourth quarter. Utah Retirement Systems now owns 449,157 shares of the cable giant’s stock valued at $25,346,000 after buying an additional 69,000 shares during the last quarter. KBC Group NV raised its stake 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 valued at $59,706,000 after buying an additional 217,361 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake 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 valued at $96,485,000 after buying an additional 53,520 shares during the last quarter.
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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