Prudential Financial Inc. Purchases 450,884 Shares of Comcast Co. (CMCSA)
Prudential Financial Inc. lifted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,020,584 shares of the cable giant’s stock after purchasing an additional 450,884 shares during the period. Comcast accounts for approximately 0.6% of Prudential Financial Inc.’s investment portfolio, making the stock its 24th biggest holding. Prudential Financial Inc.’s holdings in Comcast were worth $425,649,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Massachusetts Financial Services Co. MA increased its stake in Comcast by 9.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock worth $4,864,907,000 after acquiring an additional 12,823,994 shares during the period. FMR LLC boosted its holdings in shares of Comcast by 7.5% in the 2nd quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock valued at $3,669,961,000 after purchasing an additional 7,812,415 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Comcast by 43.9% in the 3rd quarter. Bank of Montreal Can now owns 22,597,172 shares of the cable giant’s stock valued at $800,167,000 after purchasing an additional 6,893,674 shares in the last quarter. Natixis acquired a new stake in shares of Comcast in the 2nd quarter valued at $147,520,000. Finally, Canyon Capital Advisors LLC acquired a new stake in shares of Comcast in the 2nd quarter valued at $147,645,000. Institutional investors own 80.10% of the company’s stock.
In other news, EVP Arthur R. Block sold 6,448 shares of Comcast stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 1,082 shares of Comcast stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the transaction, the executive vice president now directly owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by insiders.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The firm had revenue of $22.14 billion for the quarter, compared to the consensus estimate of $21.75 billion. Comcast had a return on equity of 15.79% and a net margin of 27.33%. On average, equities research analysts forecast that Comcast Co. will post 2.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, December 31st. Comcast’s payout ratio is presently 36.89%.
CMCSA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Comcast in a report on Friday, October 12th. They issued an “overweight” rating and a $42.00 target price on the stock. ValuEngine raised Comcast from a “strong sell” rating to a “sell” rating in a report on Monday, September 17th. UBS Group downgraded Comcast from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. Pivotal Research reduced their target price on Comcast from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, October 2nd. Finally, KeyCorp raised their target price on Comcast from $38.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, September 26th. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Comcast presently has an average rating of “Buy” and an average target price of $44.61.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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