Traders Sell Shares of Comcast Corp. (CMCSA) on Strength (CMCSA)
Investors sold shares of Comcast Corp. (NASDAQ:CMCSA) on strength during trading on Wednesday. $42.77 million flowed into the stock on the tick-up and $92.62 million flowed out of the stock on the tick-down, for a money net flow of $49.85 million out of the stock. Of all equities tracked, Comcast Corp. had the 7th highest net out-flow for the day. Comcast Corp. traded up $0.32 for the day and closed at $67.22
CMCSA has been the topic of a number of recent research reports. Argus lifted their price target on shares of Comcast Corp. from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday. Credit Suisse Group AG reissued an “outperform” rating and set a $75.00 price objective (up from $69.00) on shares of Comcast Corp. in a report on Monday, August 1st. Pacific Crest lifted their price objective on Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. RBC Capital Markets reissued an “outperform” rating and set a $72.00 price objective (up from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Finally, Jefferies Group lifted their price objective on Comcast Corp. from $72.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Comcast Corp. presently has an average rating of “Buy” and a consensus target price of $71.48.
The firm has a market capitalization of $162.12 billion and a price-to-earnings ratio of 20.44. The stock’s 50-day moving average is $66.18 and its 200 day moving average is $61.76.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The business earned $18.74 billion during the quarter, compared to analyst estimates of $19.11 billion. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. Equities research analysts anticipate that Comcast Corp. will post $3.51 earnings per share for the current fiscal year.
The firm 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 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Monday, October 3rd.
In other Comcast Corp. news, Director Kenneth J. Bacon sold 2,500 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $62.82, for a total value of $157,050.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Brian L. Roberts sold 304,109 shares of the stock in a transaction dated 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 owns 630,596 shares of the company’s stock, valued at $42,413,886.96. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the stock. Calvert Investment Management Inc. increased its position in Comcast Corp. by 19.1% in the fourth quarter. Calvert Investment Management Inc. now owns 247,018 shares of the cable giant’s stock valued at $13,939,000 after buying an additional 39,644 shares in the last quarter. American International Group Inc. increased its position in shares of Comcast Corp. by 14.9% in the fourth quarter. American International Group Inc. now owns 1,212,309 shares of the cable giant’s stock worth $68,410,000 after buying an additional 157,308 shares during the period. West Family Investments Inc. bought a new position in shares of Comcast Corp. during the fourth quarter worth about $3,386,000. BlackRock Investment Management LLC increased its position in shares of Comcast Corp. by 38.1% in the fourth quarter. BlackRock Investment Management LLC now owns 10,869,126 shares of the cable giant’s stock worth $613,345,000 after buying an additional 3,001,192 shares during the period. Finally, BlackRock Advisors LLC increased its position in shares of 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.
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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