Comcast Co. (CMCSA) Position Reduced by Quest Investment Management LLC
Quest Investment Management LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 16.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 279,986 shares of the cable giant’s stock after selling 57,093 shares during the period. Quest Investment Management LLC’s holdings in Comcast were worth $9,186,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Hoylecohen LLC purchased a new position in Comcast during the fourth quarter worth about $211,000. Wasatch Advisors Inc. boosted its holdings in shares of Comcast by 8.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 68,900 shares of the cable giant’s stock worth $2,261,000 after purchasing an additional 5,200 shares in the last quarter. Adviser Investments LLC boosted its holdings in shares of Comcast by 56.5% in the 2nd quarter. Adviser Investments LLC now owns 17,995 shares of the cable giant’s stock worth $590,000 after purchasing an additional 6,500 shares in the last quarter. Vident Investment Advisory LLC boosted its holdings in shares of Comcast by 103.4% in the 4th quarter. Vident Investment Advisory LLC now owns 32,829 shares of the cable giant’s stock worth $1,315,000 after purchasing an additional 16,686 shares in the last quarter. Finally, Security National Trust Co. boosted its holdings in shares of Comcast by 63.3% in the 1st quarter. Security National Trust Co. now owns 18,004 shares of the cable giant’s stock worth $615,000 after purchasing an additional 6,980 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
In other news, SVP Daniel C. Murdock sold 1,694 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total value of $52,598.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.31% of the company’s stock.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 26th. The cable giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Comcast’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts forecast that Comcast Co. will post 2.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 36.89%.
CMCSA has been the subject of a number of research reports. Raymond James upgraded Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Robert W. Baird cut their price objective on Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Pivotal Research reiterated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a report on Monday, July 30th. Atlantic Securities cut Comcast from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 8th. Finally, Macquarie reiterated a “hold” rating and issued a $38.00 price objective on shares of Comcast in a report on Sunday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. Comcast presently has a consensus rating of “Buy” and a consensus price target of $45.79.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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