Sound Shore Management Inc. CT Lowers Holdings in Comcast Co. (CMCSA)
Sound Shore Management Inc. CT decreased its position in Comcast Co. (NASDAQ:CMCSA) by 16.4% during the 3rd quarter, Holdings Channel reports. The firm owned 3,272,421 shares of the cable giant’s stock after selling 643,173 shares during the quarter. Sound Shore Management Inc. CT’s holdings in Comcast were worth $125,923,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Comcast by 1,581.1% during the second quarter. Janus Henderson Group PLC now owns 28,199,798 shares of the cable giant’s stock valued at $1,097,544,000 after acquiring an additional 26,522,368 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Comcast by 2.8% during 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 acquiring an additional 8,677,771 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Comcast by 38.4% during the second quarter. UBS Asset Management Americas Inc. now owns 18,417,341 shares of the cable giant’s stock valued at $716,803,000 after acquiring an additional 5,108,525 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Comcast by 40.2% during the second quarter. Prudential Financial Inc. now owns 12,254,212 shares of the cable giant’s stock valued at $476,934,000 after acquiring an additional 3,513,006 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Comcast during the second quarter valued at $136,220,000. 82.20% of the stock is currently owned by institutional investors.
CMCSA has been the topic of a number of analyst reports. Buckingham Research initiated coverage on Comcast in a research note on Monday, November 20th. They set a “buy” rating and a $48.00 price objective on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 price objective on shares of Comcast in a research note on Friday, November 17th. Moffett Nathanson reaffirmed a “buy” rating on shares of Comcast in a research note on Monday, October 16th. Nomura decreased their price objective on Comcast from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, Pivotal Research increased their price objective on Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.62.
Shares of Comcast Co. (NASDAQ CMCSA) opened at $41.85 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.06. Comcast Co. has a 52 week low of $34.78 and a 52 week high of $42.71. The stock has a market capitalization of $194,802.78, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The firm had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.05 billion. During the same period last year, the company earned $0.92 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. equities analysts predict that Comcast Co. will post 2.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.50%. Comcast’s dividend payout ratio (DPR) is 30.36%.
In other news, EVP Arthur R. Block sold 5,630 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $39.89, for a total value of $224,580.70. Following the transaction, the executive vice president now directly owns 71,664 shares in the company, valued at approximately $2,858,676.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total value of $159,920.94. Following the completion of the transaction, the executive vice president now owns 65,946 shares in the company, valued at $2,678,726.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 593,402 shares of company stock worth $22,961,401. Company insiders own 1.28% of the company’s stock.
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Comcast Company Profile
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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