SSI Investment Management Inc. Raises Position in Comcast Corp. (CMCSA)
SSI Investment Management Inc. raised its position in Comcast Corp. (NASDAQ:CMCSA) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,888 shares of the cable giant’s stock after buying an additional 59 shares during the period. SSI Investment Management Inc.’s holdings in Comcast Corp. were worth $318,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. boosted its stake in Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock valued at $107,000 after buying an additional 326 shares during the period. Proficio Capital Partners LLC boosted its stake in Comcast Corp. by 80.1% in the second quarter. Proficio Capital Partners LLC now owns 1,704 shares of the cable giant’s stock valued at $116,000 after buying an additional 758 shares during the period. Cribstone Capital Management LLC acquired a new stake in Comcast Corp. during the second quarter valued at about $115,000. Hudock Capital Group LLC boosted its stake in Comcast Corp. by 21.2% in the second quarter. Hudock Capital Group LLC now owns 1,904 shares of the cable giant’s stock valued at $124,000 after buying an additional 333 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Comcast Corp. by 14.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,954 shares of the cable giant’s stock valued at $127,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 82.42% of the company’s stock.
Comcast Corp. (NASDAQ:CMCSA) opened at 65.92 on Friday. Comcast Corp. has a 12 month low of $52.34 and a 12 month high of $68.36. The stock’s 50 day moving average is $66.59 and its 200 day moving average is $63.35. The company has a market cap of $158.99 billion, a PE ratio of 20.04 and a beta of 1.00.
Comcast Corp. (NASDAQ:CMCSA) last issued its 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 firm earned $18.74 billion during the quarter, compared to the consensus estimate of $19.11 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Comcast Corp. will post $3.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s payout ratio is 33.43%.
A number of research analysts recently issued reports on CMCSA shares. Wells Fargo & Co. reissued a “buy” rating on shares of Comcast Corp. in a report on Monday, July 18th. Pivotal Research reissued a “buy” rating on shares of Comcast Corp. in a report on Thursday, July 28th. Jefferies Group boosted their target price on Comcast Corp. from $72.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Nomura reissued a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $67.00 target price on shares of Comcast Corp. in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $71.83.
In related news, EVP Neil Smit sold 29,475 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.86, for a total transaction of $2,000,173.50. Following the transaction, the executive vice president now directly owns 81,410 shares of the company’s stock, valued at $5,524,482.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Brian L. Roberts sold 304,109 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the transaction, the chairman now directly owns 630,596 shares in the company, valued at $42,413,886.96. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.
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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