Investors Sell Shares of Comcast Corp. (CMCSA) on Strength (CMCSA)
Investors sold shares of Comcast Corp. (NASDAQ:CMCSA) on strength during trading hours on Wednesday. $52.11 million flowed into the stock on the tick-up and $129.35 million flowed out of the stock on the tick-down, for a money net flow of $77.24 million out of the stock. Of all equities tracked, Comcast Corp. had the 3rd highest net out-flow for the day. Comcast Corp. traded up $0.03 for the day and closed at $65.69
A number of research analysts recently commented on CMCSA shares. Pivotal Research increased their price target on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 7th. Wells Fargo & Co. reissued a “buy” rating on shares of Comcast Corp. in a research report on Monday, July 18th. Barclays PLC reissued an “overweight” rating and issued a $69.00 price objective (up from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Argus increased their price objective on shares of Comcast Corp. from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $75.00 price objective (up from $69.00) on shares of Comcast Corp. in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued 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 a consensus target price of $71.68.
The company has a market capitalization of $158.43 billion and a price-to-earnings ratio of 19.97. The company has a 50 day moving average of $67.04 and a 200-day moving average of $62.56.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors 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 1.67%. The ex-dividend date of this dividend is Monday, October 3rd.
In other news, Chairman Brian L. Roberts sold 304,109 shares of the firm’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 sale, the chairman now owns 630,596 shares in the company, valued at approximately $42,413,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Smit sold 15,121 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $63.47, for a total transaction 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 disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in CMCSA. BlackRock Advisors LLC boosted 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 period. Dimensional Fund Advisors LP boosted its stake in Comcast Corp. by 23.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,227,193 shares of the cable giant’s stock valued at $1,592,906,000 after buying an additional 5,356,393 shares during the period. BlackRock Investment Management LLC boosted its stake in 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 valued at $613,345,000 after buying an additional 3,001,192 shares during the period. Tweedy Browne Co. LLC purchased a new stake in Comcast Corp. during the fourth quarter valued at approximately $62,004,000. Finally, Jennison Associates LLC boosted its stake in Comcast Corp. by 27.0% in the fourth quarter. Jennison Associates LLC now owns 4,983,216 shares of the cable giant’s stock valued at $281,203,000 after buying an additional 1,058,346 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.