Investors Buy Shares of Comcast Corp. (CMCSA) on Weakness
Traders bought shares of Comcast Corp. (NASDAQ:CMCSA) on weakness during trading 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
A number of research firms recently commented on CMCSA. Pacific Crest restated a “buy” rating on shares of Comcast Corp. in a research report on Sunday, May 22nd. Goldman Sachs Group Inc. increased their target price on Comcast Corp. from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. RBC Capital Markets reiterated an “outperform” rating and set a $72.00 target price (up previously from $70.00) on shares of Comcast Corp. in a report on Thursday. Nomura reiterated a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. Finally, Pivotal Research increased their target price on Comcast Corp. from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Comcast Corp. presently has an average rating of “Buy” and a consensus target price of $70.61.
The stock’s 50-day moving average price is $65.14 and its 200 day moving average price is $61.03. The stock has a market cap of $162.20 billion and a price-to-earnings ratio of 20.45.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm earned $18.74 billion during the quarter, compared to the consensus estimate of $19.11 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate 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. Shareholders 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 yield of 1.64%. The ex-dividend date is Monday, October 3rd.
In other Comcast Corp. news, Director Kenneth J. Bacon sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $62.82, for a total value of $157,050.00. Following the transaction, the director now directly owns 14,100 shares in the company, valued at $885,762. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith Rodin sold 635 shares of the business’s stock in a transaction dated 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 in the company, valued at $908,030.25. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in 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 last quarter. Alta Park Capital LP bought a new position in Comcast Corp. during the fourth quarter worth $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 last quarter. 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 last quarter. 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 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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