Abbrea Capital LLC Raises Stake in Comcast Corporation (CMCSA)
Abbrea Capital LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 117.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,968 shares of the cable giant’s stock after buying an additional 19,929 shares during the period. Abbrea Capital LLC’s holdings in Comcast Corporation were worth $1,390,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Hosking Partners LLP boosted its stake in shares of Comcast Corporation by 120.0% in the first quarter. Hosking Partners LLP now owns 1,081,757 shares of the cable giant’s stock valued at $40,663,000 after buying an additional 590,149 shares during the period. RKL Wealth Management LLC bought a new stake in shares of Comcast Corporation during the first quarter valued at about $201,000. Coldstream Capital Management Inc. boosted its stake in shares of Comcast Corporation by 137.0% in the first quarter. Coldstream Capital Management Inc. now owns 8,313 shares of the cable giant’s stock valued at $312,000 after buying an additional 4,805 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Comcast Corporation by 123.1% in the first quarter. Baird Financial Group Inc. now owns 443,433 shares of the cable giant’s stock valued at $16,669,000 after buying an additional 244,716 shares during the period. Finally, Clifford Swan Investment Counsel LLC boosted its stake in shares of Comcast Corporation by 100.0% in the first quarter. Clifford Swan Investment Counsel LLC now owns 16,001 shares of the cable giant’s stock valued at $601,000 after buying an additional 8,001 shares during the period. Institutional investors own 82.02% of the company’s stock.
Shares of Comcast Corporation (CMCSA) traded up 1.54% during trading on Wednesday, hitting $40.78. The company had a trading volume of 3,075,967 shares. The stock’s 50-day moving average is $39.96 and its 200 day moving average is $39.02. The firm has a market capitalization of $192.21 billion, a P/E ratio of 20.54 and a beta of 1.01. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. Equities research analysts predict that Comcast Corporation will post $2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio is currently 31.74%.
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CMCSA has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $44.00 target price (up previously from $43.00) on shares of Comcast Corporation in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Comcast Corporation in a research report on Wednesday, June 28th. Credit Suisse Group increased their target price on Comcast Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 price objective on shares of Comcast Corporation in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Comcast Corporation in a research report on Sunday, July 9th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.69.
In other news, SVP Daniel C. Murdock sold 3,659 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now directly owns 725 shares of the company’s stock, valued at approximately $28,717.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.28% of the company’s stock.
About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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