Comcast Corporation (CMCSA) Stake Lifted by Hartford Financial Management Inc.
Hartford Financial Management Inc. lifted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,731 shares of the cable giant’s stock after purchasing an additional 250 shares during the quarter. Hartford Financial Management Inc.’s holdings in Comcast Corporation were worth $612,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its holdings in Comcast Corporation by 100.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock worth $100,000 after purchasing an additional 1,340 shares in the last quarter. Zions Bancorporation lifted its position in Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after purchasing an additional 410 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in Comcast Corporation in the first quarter worth approximately $112,000. Founders Capital Management acquired a new stake in Comcast Corporation in the first quarter worth approximately $113,000. Finally, Pacific Center for Financial Services lifted its position in Comcast Corporation by 133.0% in the first quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock worth $118,000 after purchasing an additional 1,788 shares during the period. 81.93% of the stock is currently owned by institutional investors.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total value of $156,930.76. Following the completion of the transaction, the executive vice president now owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,982 shares of company stock worth $385,050. Company insiders own 1.28% of the company’s stock.
CMCSA has been the topic of several research analyst reports. Guggenheim upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $46.00 in a research report on Thursday, August 3rd. BidaskClub downgraded Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Instinet restated a “buy” rating and issued a $46.00 price objective on shares of Comcast Corporation in a report on Wednesday, June 28th. Wells Fargo & Company restated an “outperform” rating and issued a $44.00 price objective on shares of Comcast Corporation in a report on Wednesday, June 28th. Finally, Moffett Nathanson upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Comcast Corporation currently has a consensus rating of “Buy” and an average target price of $45.83.
Comcast Corporation (NASDAQ:CMCSA) opened at 38.30 on Wednesday. The stock has a market cap of $180.52 billion, a PE ratio of 19.29 and a beta of 0.98. The firm’s 50-day moving average price is $39.17 and its 200 day moving average price is $39.23. Comcast Corporation has a 1-year low of $30.02 and a 1-year high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The firm had revenue of $21.17 billion during the quarter, compared to analysts’ expectations of $20.85 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post $2.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a yield of 1.64%. Comcast Corporation’s dividend payout ratio (DPR) is presently 31.74%.
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About Comcast Corporation
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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