Griffin Asset Management Inc. Takes Position in Comcast Corporation (CMCSA)
Griffin Asset Management Inc. purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,396 shares of the cable giant’s stock, valued at approximately $599,000.
Several other institutional investors have also made changes to their positions in CMCSA. Zions Bancorporation grew its holdings in shares of Comcast by 16.8% during the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after buying an additional 410 shares in the last quarter. Clear Perspective Advisors LLC grew its holdings in shares of Comcast by 100.1% during the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after buying an additional 1,362 shares in the last quarter. First Bank & Trust grew its holdings in shares of Comcast by 84.9% during the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after buying an additional 1,302 shares in the last quarter. Founders Capital Management bought a new position in shares of Comcast during the first quarter worth about $113,000. Finally, Partners Capital Investment Group Holdings LLC grew its holdings in shares of Comcast by 100.0% during the first quarter. Partners Capital Investment Group Holdings LLC now owns 3,488 shares of the cable giant’s stock worth $131,000 after buying an additional 1,744 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.
In other news, Chairman Brian L. Roberts sold 583,835 shares of Comcast stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the transaction, the chairman now owns 1,711,798 shares in the company, valued at approximately $66,195,228.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of Comcast stock in a transaction 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 in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. equities research analysts anticipate that Comcast Corporation will post 2.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.58%. Comcast’s dividend payout ratio is presently 29.72%.
A number of research analysts have weighed in on the company. Macquarie restated a “buy” rating and issued a $40.00 price target on shares of Comcast in a research note on Thursday, December 7th. Moffett Nathanson upgraded Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, September 12th. They noted that the move was a valuation call. ValuEngine downgraded Comcast from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird restated an “outperform” rating on shares of Comcast in a research note on Wednesday, September 20th. Finally, Barclays decreased their price target on Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.72.
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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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