Korea Investment CORP Raises Position in Comcast Corporation (CMCSA)
Korea Investment CORP lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,050,095 shares of the cable giant’s stock after purchasing an additional 68,845 shares during the period. Comcast Corporation accounts for 0.9% of Korea Investment CORP’s portfolio, making the stock its 14th largest position. Korea Investment CORP owned 0.11% of Comcast Corporation worth $196,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in Comcast Corporation by 100.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock worth $100,000 after acquiring an additional 1,340 shares during the period. Zions Bancorporation grew its holdings in Comcast Corporation by 16.8% during the 1st quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after acquiring an additional 410 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in Comcast Corporation during the 1st quarter worth $112,000. Founders Capital Management acquired a new stake in Comcast Corporation during the 1st quarter worth $113,000. Finally, Pacific Center for Financial Services grew its holdings in Comcast Corporation by 133.0% during the 1st quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock worth $118,000 after acquiring an additional 1,788 shares during the period. 81.93% of the stock is owned by institutional investors and hedge funds.
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Shares of Comcast Corporation (NASDAQ CMCSA) opened at 38.59 on Thursday. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18. The company has a market capitalization of $181.89 billion, a PE ratio of 19.44 and a beta of 0.98. The company has a 50-day moving average of $39.08 and a 200 day moving average of $39.22.
Comcast Corporation (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $21.17 billion during the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. Analysts predict that Comcast Corporation will post $2.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s payout ratio is 31.74%.
CMCSA has been the subject of a number of analyst reports. ValuEngine lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $44.00 target price (up previously from $43.00) on shares of Comcast Corporation in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Comcast Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Comcast Corporation in a report on Friday, July 7th. Finally, Moffett Nathanson raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $45.83.
In other news, SVP Daniel C. Murdock sold 3,659 shares of Comcast Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $39.61, for a total transaction of $144,932.99. Following the completion of the transaction, the senior vice president now directly owns 725 shares in the company, valued at $28,717.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the transaction, the director now owns 24,580 shares of the company’s stock, valued at $916,096.60. The disclosure for this sale can be found here. Insiders sold 9,982 shares of company stock valued at $385,050 over the last 90 days. Corporate insiders own 1.28% of the company’s stock.
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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