Comcast Co. (CMCSA) Position Boosted by CNB Bank
CNB Bank boosted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 223.5% in the 1st quarter, HoldingsChannel reports. The fund owned 2,915 shares of the cable giant’s stock after purchasing an additional 2,014 shares during the period. CNB Bank’s holdings in Comcast were worth $117,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Hartford Investment Management Co. grew its stake in Comcast by 1.6% during the first quarter. Hartford Investment Management Co. now owns 592,219 shares of the cable giant’s stock valued at $23,677,000 after acquiring an additional 9,147 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Comcast by 7.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,350,657 shares of the cable giant’s stock valued at $53,999,000 after acquiring an additional 93,800 shares in the last quarter. Psagot Investment House Ltd. grew its stake in Comcast by 2.2% during the first quarter. Psagot Investment House Ltd. now owns 503,221 shares of the cable giant’s stock valued at $20,119,000 after acquiring an additional 10,655 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Comcast by 3.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 117,787 shares of the cable giant’s stock valued at $4,708,000 after acquiring an additional 3,461 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Comcast by 43.9% during the first quarter. Quadrant Capital Group LLC now owns 38,855 shares of the cable giant’s stock valued at $1,533,000 after acquiring an additional 11,846 shares in the last quarter. 80.77% of the stock is owned by institutional investors.
CMCSA has been the subject of several recent analyst reports. BidaskClub cut shares of Comcast from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Royal Bank of Canada lowered shares of Comcast from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $45.00 to $42.00 in a research report on Friday, March 29th. Macquarie upgraded shares of Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Tuesday, April 9th. Finally, Nomura lifted their target price on shares of Comcast from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Comcast currently has an average rating of “Buy” and an average price target of $44.65.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The firm had revenue of $26.86 billion during the quarter, compared to analyst estimates of $27.27 billion. Comcast had a net margin of 12.34% and a return on equity of 17.04%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities research analysts expect that Comcast Co. will post 3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a $0.21 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. Comcast’s payout ratio is 32.94%.
In other news, CAO Daniel C. Murdock sold 919 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $40.36, for a total value of $37,090.84. Following the completion of the sale, the chief accounting officer now directly owns 3,453 shares in the company, valued at approximately $139,363.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen B. Burke sold 457,633 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the sale, the executive vice president now owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 849,537 shares of company stock valued at $35,489,480. Company insiders own 1.35% 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, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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