Investors Sell Shares of Comcast Corp. (CMCSA) on Strength Following Insider Selling
Investors sold shares of Comcast Corp. (NASDAQ:CMCSA) on strength during trading hours on Wednesday after an insider sold shares in the company. $59.55 million flowed into the stock on the tick-up and $116.97 million flowed out of the stock on the tick-down, for a money net flow of $57.42 million out of the stock. Of all companies tracked, Comcast Corp. had the 5th highest net out-flow for the day. Comcast Corp. traded up $0.93 for the day and closed at $67.16Specifically, EVP Neil Smit sold 15,121 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $65.68, for a total transaction of $993,147.28. Following the transaction, the executive vice president now owns 66,289 shares in the company, valued at approximately $4,353,861.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur R. Block sold 1,023 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $65.75, for a total transaction of $67,262.25. Following the transaction, the executive vice president now owns 47,539 shares in the company, valued at approximately $3,125,689.25. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $72.00 target price (up from $70.00) on shares of Comcast Corp. in a research note on Thursday, July 28th. Pivotal Research reiterated a “buy” rating on shares of Comcast Corp. in a research note on Thursday, July 28th. Pacific Crest raised their target price on shares of Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Jefferies Group raised their target price on shares of Comcast Corp. from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Royal Bank Of Canada raised their target price on shares of Comcast Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.83.
The firm has a market capitalization of $161.98 billion, a P/E ratio of 20.42 and a beta of 1.00. The company has a 50 day moving average of $66.35 and a 200 day moving average of $63.59.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $19.11 billion. During the same period in the prior year, the company posted $0.84 earnings per share. Comcast Corp.’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Comcast Corp. will post $3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.64%. Comcast Corp.’s dividend payout ratio (DPR) is presently 33.43%.
Several institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. increased its stake in shares of Comcast Corp. by 11.8% in the first quarter. Carroll Financial Associates Inc. now owns 4,543 shares of the cable giant’s stock worth $277,000 after buying an additional 480 shares during the last quarter. Boston Advisors LLC increased its stake in shares of Comcast Corp. by 5.5% in the first quarter. Boston Advisors LLC now owns 955,298 shares of the cable giant’s stock worth $58,350,000 after buying an additional 49,455 shares during the last quarter. V Wealth Management LLC purchased a new stake in shares of Comcast Corp. during the first quarter worth about $2,032,000. Sigma Planning Corp increased its stake in shares of Comcast Corp. by 0.6% in the first quarter. Sigma Planning Corp now owns 10,927 shares of the cable giant’s stock worth $667,000 after buying an additional 69 shares during the last quarter. Finally, First Financial Corp IN increased its stake in shares of Comcast Corp. by 1.1% in the first quarter. First Financial Corp IN now owns 16,737 shares of the cable giant’s stock worth $1,022,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.
Comcast Corp. Company Profile
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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