Old Port Advisors Sells 325 Shares of Comcast Co. (NASDAQ:CMCSA)
Old Port Advisors cut its position in Comcast Co. (NASDAQ:CMCSA) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,929 shares of the cable giant’s stock after selling 325 shares during the quarter. Old Port Advisors’ holdings in Comcast were worth $489,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new position in shares of Comcast during the second quarter valued at approximately $25,000. Evolution Wealth Advisors LLC bought a new position in Comcast in the second quarter worth approximately $26,000. Mackey Komara & Dankovich LLC grew its stake in Comcast by 52.2% in the second quarter. Mackey Komara & Dankovich LLC now owns 1,032 shares of the cable giant’s stock worth $29,000 after purchasing an additional 354 shares in the last quarter. Bray Capital Advisors bought a new position in Comcast in the second quarter worth approximately $30,000. Finally, Litman Gregory Asset Management LLC bought a new position in Comcast in the second quarter worth approximately $31,000. 82.75% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CMCSA traded up $0.18 during midday trading on Thursday, reaching $44.56. 1,301,235 shares of the company were exchanged, compared to its average volume of 16,344,698. The stock’s 50-day moving average price is $45.05 and its 200-day moving average price is $43.13. The stock has a market cap of $202.66 billion, a P/E ratio of 17.47, a PEG ratio of 1.23 and a beta of 1.08. Comcast Co. has a one year low of $32.61 and a one year high of $47.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.21 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Comcast’s dividend payout ratio is 32.94%.
In related news, SVP Daniel C. Murdock sold 848 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total value of $37,507.04. Following the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at $151,222.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth J. Bacon sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total transaction of $180,120.00. Following the completion of the sale, the director now directly owns 29,603 shares in the company, valued at approximately $1,333,023.09. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.
CMCSA has been the topic of several research analyst reports. Goldman Sachs Group raised Comcast from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $54.00 in a research note on Wednesday, July 10th. Raymond James downgraded Comcast from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $25.00 to $21.00 in a research report on Friday, June 14th. Morgan Stanley increased their price target on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Rosenblatt Securities assumed coverage on Comcast in a research report on Friday, June 14th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Macquarie assumed coverage on Comcast in a research report on Wednesday, June 19th. They set a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $48.70.
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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