Daiwa Securities Group Inc. Increases Stake in Comcast Corporation (CMCSA)
Daiwa Securities Group Inc. grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 61.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 298,670 shares of the cable giant’s stock after buying an additional 113,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Comcast Corporation were worth $11,624,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd increased its position in Comcast Corporation by 573.3% during the 1st quarter. WINTON GROUP Ltd now owns 219,526 shares of the cable giant’s stock worth $14,563,000 after purchasing an additional 186,920 shares in the last quarter. Boston Partners raised its holdings in Comcast Corporation by 140.7% in the first quarter. Boston Partners now owns 16,659,589 shares of the cable giant’s stock valued at $626,233,000 after buying an additional 9,739,468 shares during the period. Artisan Partners Limited Partnership raised its holdings in Comcast Corporation by 100.9% in the first quarter. Artisan Partners Limited Partnership now owns 899,227 shares of the cable giant’s stock valued at $33,802,000 after buying an additional 451,551 shares during the period. Tower Bridge Advisors raised its holdings in Comcast Corporation by 10.1% in the second quarter. Tower Bridge Advisors now owns 142,129 shares of the cable giant’s stock valued at $5,532,000 after buying an additional 13,003 shares during the period. Finally, Haverford Trust Co. lifted its position in Comcast Corporation by 117.5% during the first quarter. Haverford Trust Co. now owns 3,301,780 shares of the cable giant’s stock valued at $124,114,000 after buying an additional 1,783,436 shares in the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the transaction, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur R. Block sold 4,091 shares of Comcast Corporation stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. In the last three months, insiders sold 9,982 shares of company stock worth $385,050. Insiders own 1.28% of the company’s stock.
Several research firms have issued reports on CMCSA. Morgan Stanley reiterated an “overweight” rating and set a $44.00 price objective on shares of Comcast Corporation in a research note on Thursday, September 21st. Robert W. Baird reissued an “outperform” rating on shares of Comcast Corporation in a research report on Wednesday, September 20th. KeyCorp reissued a “neutral” rating on shares of Comcast Corporation in a research note on Sunday, September 17th. Moffett Nathanson raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, September 12th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.83.
Shares of Comcast Corporation (NASDAQ:CMCSA) opened at 38.48 on Monday. The stock’s 50 day moving average price is $39.84 and its 200 day moving average price is $39.19. The firm has a market capitalization of $181.37 billion, a P/E ratio of 19.39 and a beta of 0.98. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. 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 prior year, the business earned $0.83 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Comcast Corporation will post $2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio is 31.74%.
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Comcast Corporation Company Profile
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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