Jennison Associates LLC Sells 64,046 Shares of Comcast Co. (CMCSA)
Jennison Associates LLC decreased its position in Comcast Co. (NASDAQ:CMCSA) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,046,151 shares of the cable giant’s stock after selling 64,046 shares during the quarter. Jennison Associates LLC’s holdings in Comcast were worth $107,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Univest Corp of Pennsylvania lifted its stake in shares of Comcast by 1.5% in the 3rd quarter. Univest Corp of Pennsylvania now owns 133,948 shares of the cable giant’s stock valued at $4,743,000 after purchasing an additional 1,944 shares during the last quarter. Cox Capital Co LLC bought a new stake in shares of Comcast in the 2nd quarter valued at approximately $1,007,000. Aureus Asset Management LLC lifted its stake in shares of Comcast by 12.1% in the 2nd quarter. Aureus Asset Management LLC now owns 44,208 shares of the cable giant’s stock valued at $1,450,000 after purchasing an additional 4,778 shares during the last quarter. BBT Capital Management LLC bought a new stake in shares of Comcast in the 2nd quarter valued at approximately $5,906,000. Finally, Wasatch Advisors Inc. increased its holdings in Comcast by 8.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 68,900 shares of the cable giant’s stock worth $2,261,000 after purchasing an additional 5,200 shares during the period. Institutional investors own 80.10% of the company’s stock.
Several research analysts have commented on the company. BidaskClub upgraded Comcast from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley assumed coverage on Comcast in a report on Thursday, November 8th. They set an “overweight” rating and a $46.00 price objective on the stock. Scotiabank set a $48.00 price objective on Comcast and gave the stock a “buy” rating in a report on Wednesday, October 31st. Barclays assumed coverage on Comcast in a report on Tuesday, November 13th. They set an “overweight” rating and a $44.00 price objective on the stock. Finally, Oppenheimer restated a “market perform” rating and set a $42.00 price objective on shares of Comcast in a report on Monday, September 24th. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comcast currently has an average rating of “Buy” and an average target price of $44.61.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The company had revenue of $22.14 billion during the quarter, compared to analysts’ expectations of $21.75 billion. As a group, equities research analysts expect that Comcast Co. will post 2.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.07%. Comcast’s dividend payout ratio is currently 36.89%.
In other news, EVP Arthur R. Block sold 6,448 shares of the business’s 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 owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were 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 approximately $2,245,387.44. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.
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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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