Comcast Co. (CMCSA) Shares Sold by Gardner Russo & Gardner LLC
Gardner Russo & Gardner LLC decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 0.6% in the 2nd quarter, Holdings Channel reports. The firm owned 7,079,637 shares of the cable giant’s stock after selling 42,500 shares during the quarter. Comcast accounts for approximately 1.7% of Gardner Russo & Gardner LLC’s portfolio, making the stock its 17th largest position. Gardner Russo & Gardner LLC’s holdings in Comcast were worth $232,283,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Comcast by 2.5% in the 1st quarter. BlackRock Inc. now owns 323,455,630 shares of the cable giant’s stock valued at $11,052,476,000 after buying an additional 7,922,120 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Comcast by 9.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock valued at $4,864,907,000 after buying an additional 12,823,994 shares during the period. FMR LLC increased its stake in shares of Comcast by 7.5% in the 2nd quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock valued at $3,669,961,000 after buying an additional 7,812,415 shares during the period. Franklin Resources Inc. increased its stake in shares of Comcast by 24.1% in the 1st quarter. Franklin Resources Inc. now owns 37,387,405 shares of the cable giant’s stock valued at $1,277,535,000 after buying an additional 7,257,371 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Comcast by 108.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock valued at $1,158,311,000 after buying an additional 17,663,290 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.
CMCSA stock opened at $36.17 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $167.99 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.20. Comcast Co. has a 1-year low of $30.43 and a 1-year high of $44.00.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 2nd. This represents a $0.76 annualized dividend and a yield of 2.10%. Comcast’s dividend payout ratio is presently 36.89%.
Several equities research analysts have recently commented on CMCSA shares. Raymond James raised Comcast from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 19th. Robert W. Baird lowered their target price on Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Monday, July 30th. Pivotal Research reaffirmed a “buy” rating and set a $48.00 price objective on shares of Comcast in a research note on Monday, July 30th. Macquarie set a $35.00 price objective on Comcast and gave the stock a “hold” rating in a research note on Wednesday, May 23rd. Finally, BidaskClub raised Comcast from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.79.
In other Comcast news, SVP Daniel C. Murdock sold 1,694 shares of Comcast stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total transaction of $52,598.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.31% of the company’s stock.
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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