Investors Sell Comcast (CMCSA) on Strength (CMCSA)
Traders sold shares of Comcast Co. (NASDAQ:CMCSA) on strength during trading on Monday. $43.80 million flowed into the stock on the tick-up and $178.93 million flowed out of the stock on the tick-down, for a money net flow of $135.13 million out of the stock. Of all stocks tracked, Comcast had the 5th highest net out-flow for the day. Comcast traded up $0.19 for the day and closed at $36.36
CMCSA has been the subject of several recent research reports. Raymond James cut Comcast from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $44.00 to $63.00 in a research note on Wednesday, June 13th. Jefferies Financial Group initiated coverage on Comcast in a research note on Thursday, June 7th. They issued a “buy” rating and a $41.00 price objective for the company. Pivotal Research reiterated a “buy” rating on shares of Comcast in a research note on Friday, August 10th. KeyCorp upgraded Comcast to an “overweight” rating in a research note on Thursday, May 17th. Finally, Credit Suisse Group initiated coverage on Comcast in a research note on Tuesday, July 10th. They issued a “neutral” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $45.79.
The company has a market capitalization of $167.99 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, October 2nd. Comcast’s payout ratio is 36.89%.
In other Comcast news, SVP Daniel C. Murdock sold 1,694 shares of Comcast stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total transaction of $52,598.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.31% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. increased its holdings in shares of Comcast by 13.4% in the second quarter. Carroll Financial Associates Inc. now owns 12,234 shares of the cable giant’s stock valued at $401,000 after purchasing an additional 1,444 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Comcast by 1.2% during the second quarter. First Citizens Bank & Trust Co. now owns 124,543 shares of the cable giant’s stock worth $4,087,000 after acquiring an additional 1,493 shares during the period. Aries Wealth Management grew its holdings in Comcast by 11.6% during the second quarter. Aries Wealth Management now owns 14,395 shares of the cable giant’s stock worth $515,000 after acquiring an additional 1,500 shares during the period. Resources Investment Advisors Inc. grew its holdings in Comcast by 51.4% during the second quarter. Resources Investment Advisors Inc. now owns 4,465 shares of the cable giant’s stock worth $147,000 after acquiring an additional 1,516 shares during the period. Finally, Perkins Coie Trust Co grew its holdings in Comcast by 2.1% during the second quarter. Perkins Coie Trust Co now owns 74,403 shares of the cable giant’s stock worth $2,440,000 after acquiring an additional 1,534 shares during the period. 80.24% of the stock is currently owned by institutional investors.
About Comcast (NASDAQ:CMCSA)
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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