EFG Asset Management Americas Corp. Purchases Shares of 110,313 Comcast Co. (CMCSA)
EFG Asset Management Americas Corp. purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 110,313 shares of the cable giant’s stock, valued at approximately $4,421,000. Comcast comprises approximately 1.3% of EFG Asset Management Americas Corp.’s holdings, making the stock its 22nd biggest holding.
Other hedge funds have also modified their holdings of the company. USS Investment Management Ltd grew its position in Comcast by 7.3% in the first quarter. USS Investment Management Ltd now owns 6,208,145 shares of the cable giant’s stock valued at $248,109,000 after acquiring an additional 423,687 shares during the period. PFS Investments Inc. bought a new stake in shares of Comcast during the first quarter worth $916,000. Benson Investment Management Company Inc. grew its holdings in shares of Comcast by 1.1% during the first quarter. Benson Investment Management Company Inc. now owns 87,835 shares of the cable giant’s stock worth $3,512,000 after purchasing an additional 925 shares during the last quarter. ETF Portfolio Partners Inc. bought a new stake in shares of Comcast during the first quarter worth $225,000. Finally, Iowa State Bank grew its holdings in shares of Comcast by 2.2% during the first quarter. Iowa State Bank now owns 56,370 shares of the cable giant’s stock worth $2,254,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors own 81.15% of the company’s stock.
In other Comcast news, EVP David L. Cohen sold 4,468 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $42.00, for a total value of $187,656.00. Following the transaction, the executive vice president now owns 269,558 shares of the company’s stock, valued at $11,321,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel C. Murdock sold 845 shares of the stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $35.55, for a total value of $30,039.75. Following the completion of the transaction, the senior vice president now directly owns 1,005 shares in the company, valued at approximately $35,727.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,290,226 shares of company stock worth $49,311,328. 1.31% of the stock is owned by company insiders.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $27.85 billion for the quarter, compared to analysts’ expectations of $27.56 billion. Comcast had a return on equity of 16.49% and a net margin of 12.41%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, equities analysts predict that Comcast Co. will post 2.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be issued a $0.21 dividend. This is a boost from Comcast’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.84 annualized dividend and a yield of 2.00%. Comcast’s dividend payout ratio (DPR) is currently 32.94%.
Several brokerages have recently commented on CMCSA. Credit Suisse Group restated a “buy” rating and set a $44.00 target price on shares of Comcast in a report on Tuesday, January 22nd. TD Securities increased their target price on Comcast from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. BidaskClub upgraded Comcast from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Nomura increased their target price on Comcast from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Macquarie upgraded Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.45.
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Comcast Company Profile
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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