Coastal Capital Group Inc. Has $200,000 Stake in Comcast Co. (CMCSA)
Coastal Capital Group Inc. lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 19.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,007 shares of the cable giant’s stock after selling 1,196 shares during the period. Coastal Capital Group Inc.’s holdings in Comcast were worth $200,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in CMCSA. Acima Private Wealth LLC acquired a new position in Comcast during the fourth quarter worth $25,000. Litman Gregory Asset Management LLC acquired a new position in Comcast during the fourth quarter worth $30,000. Ironwood Financial llc acquired a new position in Comcast during the fourth quarter worth $32,000. IMS Capital Management acquired a new position in Comcast during the third quarter worth $38,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in Comcast during the fourth quarter worth $46,000. Institutional investors own 81.15% of the company’s stock.
Several research analysts have weighed in on CMCSA shares. Macquarie restated a “hold” rating and set a $39.00 price objective on shares of Comcast in a report on Monday, December 24th. Credit Suisse Group restated a “buy” rating and set a $44.00 price objective on shares of Comcast in a report on Tuesday, January 22nd. TD Securities upped their price objective on shares of Comcast from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. BidaskClub downgraded shares of Comcast from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Comcast currently has an average rating of “Buy” and an average target price of $44.45.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Wednesday, January 23rd. The cable giant reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $27.85 billion during the quarter, compared to the consensus estimate of $27.56 billion. Comcast had a net margin of 12.41% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts anticipate that Comcast Co. will post 2.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.84 annualized dividend and a yield of 1.98%. This is a positive change from Comcast’s previous quarterly dividend of $0.19. Comcast’s dividend payout ratio is presently 32.94%.
In related news, EVP David L. Cohen sold 4,468 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $42.00, for a total transaction of $187,656.00. Following the completion of the transaction, the executive vice president now owns 269,558 shares in the company, valued at $11,321,436. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Daniel C. Murdock sold 919 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $40.36, for a total transaction of $37,090.84. Following the transaction, the chief accounting officer now owns 3,453 shares of the company’s stock, valued at approximately $139,363.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,290,226 shares of company stock valued at $49,311,328. 1.31% of the stock is owned by company insiders.
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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