Watch Point Trust Co Has $2.96 Million Position in Comcast Co. (CMCSA)
Watch Point Trust Co increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,946 shares of the cable giant’s stock after buying an additional 1,829 shares during the quarter. Comcast comprises approximately 2.6% of Watch Point Trust Co’s investment portfolio, making the stock its 12th biggest position. Watch Point Trust Co’s holdings in Comcast were worth $2,961,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the stock. Alps Advisors Inc. grew its position in Comcast by 5.2% during the fourth quarter. Alps Advisors Inc. now owns 27,363 shares of the cable giant’s stock worth $1,096,000 after buying an additional 1,364 shares in the last quarter. Calton & Associates Inc. acquired a new stake in shares of Comcast in the 4th quarter valued at $1,488,000. Quadrant Private Wealth Management LLC acquired a new stake in shares of Comcast in the 4th quarter valued at $295,000. Lee Danner & Bass Inc. boosted its holdings in shares of Comcast by 4.1% in the 4th quarter. Lee Danner & Bass Inc. now owns 143,247 shares of the cable giant’s stock valued at $5,737,000 after purchasing an additional 5,584 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Comcast by 8.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 4,814,086 shares of the cable giant’s stock valued at $192,804,000 after purchasing an additional 393,087 shares in the last quarter. 83.59% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Pivotal Research reaffirmed a “buy” rating and issued a $52.00 target price on shares of Comcast in a report on Wednesday, January 24th. Bank of America raised their target price on Comcast from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, January 25th. TD Securities raised their target price on Comcast from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Co raised their target price on Comcast from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays set a $43.00 target price on Comcast and gave the company a “buy” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.39.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Wednesday, January 24th. The cable giant reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The company had revenue of $21.92 billion for the quarter, compared to the consensus estimate of $21.83 billion. During the same quarter last year, the business posted $0.89 EPS. Comcast’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts forecast that Comcast Co. will post 2.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 4th will be issued a dividend of $0.19 per share. This is an increase from Comcast’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.09%. Comcast’s dividend payout ratio (DPR) is 13.21%.
In related news, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the transaction, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at approximately $2,678,726.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Brian L. Roberts sold 583,835 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the transaction, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 915,605 shares of company stock worth $35,906,374. 1.28% of the stock is currently owned by company insiders.
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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