Traders Sell Shares of Comcast Corporation (CMCSA) on Strength (CMCSA)
Investors sold shares of Comcast Corporation (NASDAQ:CMCSA) on strength during trading hours on Friday. $43.99 million flowed into the stock on the tick-up and $96.94 million flowed out of the stock on the tick-down, for a money net flow of $52.95 million out of the stock. Of all stocks tracked, Comcast Corporation had the 0th highest net out-flow for the day. Comcast Corporation traded up $0.45 for the day and closed at $41.06
CMCSA has been the subject of a number of recent analyst reports. Macquarie reissued a “buy” rating and set a $45.00 target price on shares of Comcast Corporation in a research report on Tuesday, May 16th. Bank of America Corporation increased their target price on shares of Comcast Corporation from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Instinet reissued a “buy” rating and set a $46.00 target price on shares of Comcast Corporation in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Comcast Corporation in a research report on Wednesday, June 28th. Finally, Pivotal Research reissued a “buy” rating and set a $48.00 target price on shares of Comcast Corporation in a research report on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.83.
The stock has a market capitalization of $193.53 billion, a P/E ratio of 20.69 and a beta of 1.01. The firm has a 50 day moving average of $40.20 and a 200 day moving average of $39.12.
Comcast Corporation (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company had revenue of $21.17 billion for the quarter, compared to the consensus estimate of $20.85 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. Comcast Corporation’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Comcast Corporation will post $2.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio is 31.74%.
In other Comcast Corporation news, SVP Daniel C. Murdock sold 3,659 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $39.61, for a total value of $144,932.99. Following the transaction, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Comcast Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after buying an additional 8,677,771 shares during the period. State Street Corp increased its position in Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares during the period. Clearbridge Investments LLC increased its position in Comcast Corporation by 97.6% in the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after buying an additional 48,147,456 shares during the period. Ameriprise Financial Inc. increased its position in Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after buying an additional 29,199,805 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Comcast Corporation by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after buying an additional 680,012 shares during the period. 82.02% of the stock is currently owned by hedge funds and other institutional investors.
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About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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