Investors Buy Shares of Comcast Corporation (CMCSA) on Weakness
Investors bought shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading hours on Wednesday. $121.38 million flowed into the stock on the tick-up and $61.16 million flowed out of the stock on the tick-down, for a money net flow of $60.22 million into the stock. Of all equities tracked, Comcast Corporation had the 17th highest net in-flow for the day. Comcast Corporation traded down ($0.01) for the day and closed at $36.41
A number of research analysts have issued reports on the stock. Buckingham Research assumed coverage on shares of Comcast Corporation in a report on Monday. They issued a “buy” rating and a $48.00 target price for the company. Robert W. Baird reissued a “buy” rating and set a $43.00 price objective on shares of Comcast Corporation in a research note on Friday, November 17th. OTR Global cut shares of Comcast Corporation to a “positive” rating in a research note on Monday, October 30th. Nomura dropped their price objective on shares of Comcast Corporation from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, Barclays PLC dropped their price objective on shares of Comcast Corporation from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $45.93.
The company has a market capitalization of $170,172.00, a PE ratio of 18.07, a PEG ratio of 1.91 and a beta of 1.00. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.06.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. The firm had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.05 billion. During the same quarter last year, the business earned $0.92 earnings per share. Comcast Corporation’s revenue was down 1.6% compared to the same quarter last year. equities research analysts expect that Comcast Corporation will post 2.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be given a dividend of $0.157 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. Comcast Corporation’s dividend payout ratio (DPR) is currently 30.36%.
In other Comcast Corporation news, EVP Arthur R. Block sold 4,091 shares of Comcast Corporation 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 transaction, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the completion of the transaction, the director now owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CMCSA. Vanguard Group Inc. raised its stake in shares of Comcast Corporation by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after acquiring an additional 8,677,771 shares during the period. State Street Corp raised its stake in shares of Comcast Corporation by 97.6% in the 1st quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after acquiring an additional 98,570,377 shares during the period. Clearbridge Investments LLC raised its stake in shares of Comcast Corporation by 97.6% in the 1st quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after acquiring an additional 48,147,456 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Comcast Corporation by 95.7% in the 1st quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after acquiring an additional 29,199,805 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Comcast Corporation by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after acquiring an additional 680,012 shares during the period. Institutional investors own 81.60% of the company’s stock.
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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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