Comcast Co. (CMCSA) Position Boosted by Ibex Wealth Advisors
Ibex Wealth Advisors increased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 357.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,881 shares of the cable giant’s stock after buying an additional 83,506 shares during the period. Comcast accounts for approximately 1.5% of Ibex Wealth Advisors’ investment portfolio, making the stock its 17th biggest position. Ibex Wealth Advisors’ holdings in Comcast were worth $4,273,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Public Employees Retirement Association of Colorado increased its holdings in shares of Comcast by 0.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 5,020,087 shares of the cable giant’s stock valued at $200,703,000 after purchasing an additional 20,604 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Comcast in the first quarter valued at $218,000. Strategic Investment Advisors MI acquired a new position in shares of Comcast in the first quarter valued at $259,000. Tocqueville Asset Management L.P. increased its holdings in shares of Comcast by 1.0% in the first quarter. Tocqueville Asset Management L.P. now owns 191,163 shares of the cable giant’s stock valued at $7,643,000 after purchasing an additional 1,939 shares during the last quarter. Finally, Perennial Advisors LLC increased its holdings in shares of Comcast by 111.8% in the first quarter. Perennial Advisors LLC now owns 6,544 shares of the cable giant’s stock valued at $262,000 after purchasing an additional 3,454 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
In related news, EVP Stephen B. Burke sold 457,633 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the sale, the executive vice president now owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel C. Murdock sold 919 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $40.36, for a total transaction of $37,090.84. Following the sale, the chief accounting officer now directly owns 3,453 shares of the company’s stock, valued at approximately $139,363.08. The disclosure for this sale can be found here. Insiders have sold 849,537 shares of company stock valued at $35,489,480 in the last ninety days. 1.35% of the stock is currently owned by company insiders.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.08. Comcast had a net margin of 12.34% and a return on equity of 17.04%. The company had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.27 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Comcast’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, analysts anticipate that Comcast Co. will post 3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $0.84 annualized dividend and a yield of 2.05%. Comcast’s dividend payout ratio is 32.94%.
CMCSA has been the topic of several research reports. TD Securities upped their price objective on shares of Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 29th. BidaskClub upgraded shares of Comcast from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Guggenheim upgraded shares of Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective on the stock in a report on Thursday. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Nomura upped their price objective on shares of Comcast from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.54.
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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