IMS Capital Management Makes New $522,000 Investment in Comcast Co. (NASDAQ:CMCSA)
IMS Capital Management bought a new position in Comcast Co. (NASDAQ:CMCSA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,578 shares of the cable giant’s stock, valued at approximately $522,000.
A number of other hedge funds have also recently modified their holdings of CMCSA. Nuveen Asset Management LLC increased its position in Comcast by 1,088.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 40,918,884 shares of the cable giant’s stock worth $1,730,050,000 after purchasing an additional 37,474,814 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Comcast by 89.7% during the 2nd quarter. APG Asset Management N.V. now owns 19,074,628 shares of the cable giant’s stock worth $708,180,000 after acquiring an additional 9,020,100 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Comcast by 2.7% during the 2nd quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock worth $13,748,022,000 after acquiring an additional 8,635,296 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Comcast by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock worth $16,552,290,000 after acquiring an additional 7,792,136 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd bought a new stake in shares of Comcast during the 2nd quarter worth about $305,744,000. 82.75% of the stock is currently owned by institutional investors.
In other Comcast news, Director Kenneth J. Bacon sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the completion of the sale, the director now owns 29,603 shares in the company, valued at approximately $1,333,023.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel C. Murdock sold 848 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total value of $37,507.04. Following the completion of the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.08 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. As a group, equities research analysts expect that Comcast Co. will post 3.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.89%. Comcast’s dividend payout ratio is currently 32.94%.
CMCSA has been the subject of several recent analyst reports. Citigroup upped their price target on Comcast from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Macquarie initiated coverage on Comcast in a research note on Wednesday, June 19th. They set a “buy” rating and a $50.00 price target for the company. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America set a $58.00 price target on Comcast and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Benchmark initiated coverage on Comcast in a research note on Wednesday, September 25th. They set a “buy” rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the company. Comcast has a consensus rating of “Buy” and a consensus target price of $48.70.
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.
Further Reading: Backdoor Roth IRA Conversion and Strategy
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.