Blume Capital Management Inc. Sells 1,600 Shares of Comcast Corporation (CMCSA)
Blume Capital Management Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,062 shares of the cable giant’s stock after selling 1,600 shares during the period. Comcast Corporation accounts for 3.6% of Blume Capital Management Inc.’s portfolio, making the stock its 12th largest holding. Blume Capital Management Inc.’s holdings in Comcast Corporation were worth $6,307,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC raised its position in shares of Comcast Corporation by 100.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after purchasing an additional 1,340 shares during the period. Zions Bancorporation raised its position in shares of Comcast Corporation by 16.8% during the 1st quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after purchasing an additional 410 shares during the period. First Bank & Trust raised its position in shares of Comcast Corporation by 84.9% during the 2nd quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock valued at $111,000 after purchasing an additional 1,302 shares during the period. Founders Capital Management bought a new stake in shares of Comcast Corporation during the 1st quarter valued at $113,000. Finally, Pacific Center for Financial Services raised its position in shares of Comcast Corporation by 133.0% during the 1st quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock valued at $118,000 after purchasing an additional 1,788 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now owns 24,580 shares of the company’s stock, valued at $916,096.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel C. Murdock sold 3,659 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $39.61, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 9,982 shares of company stock valued at $385,050 in the last three months. 1.28% of the stock is currently owned by insiders.
CMCSA has been the topic of several recent analyst reports. ValuEngine downgraded shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley reiterated an “overweight” rating and issued a $44.00 price target (up from $43.00) on shares of Comcast Corporation in a report on Thursday, July 6th. Moffett Nathanson upgraded shares of Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, September 12th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating and issued a $47.00 price target on shares of Comcast Corporation in a report on Friday, July 7th. Finally, KeyCorp reiterated a “neutral” rating on shares of Comcast Corporation in a report on Sunday, September 17th. Three research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $45.84.
Comcast Corporation (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a $0.157 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, January 2nd. Comcast Corporation’s dividend payout ratio is currently 30.36%.
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Comcast Corporation Company Profile
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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