Laurel Wealth Advisors Inc. Raises Position in Comcast Corporation (CMCSA)
Laurel Wealth Advisors Inc. increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 142.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,206 shares of the cable giant’s stock after buying an additional 7,164 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Comcast Corporation were worth $458,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CMCSA. State Street Corp raised its stake in shares of Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after buying an additional 29,199,805 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Comcast Corporation by 103.1% in the first quarter. Bank of New York Mellon Corp now owns 56,323,747 shares of the cable giant’s stock valued at $2,117,212,000 after buying an additional 28,597,277 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Comcast Corporation by 56.9% in the first quarter. First Eagle Investment Management LLC now owns 34,799,928 shares of the cable giant’s stock valued at $1,308,129,000 after buying an additional 12,625,830 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Comcast Corporation by 102.5% in the first quarter. Fisher Asset Management LLC now owns 25,364,691 shares of the cable giant’s stock valued at $953,459,000 after buying an additional 12,839,117 shares during the period. 82.87% of the stock is currently owned by institutional investors.
Shares of Comcast Corporation (NASDAQ:CMCSA) traded up 0.52% on Friday, hitting $40.48. 10,101,915 shares of the stock were exchanged. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18. The company has a market cap of $190.80 billion, a price-to-earnings ratio of 20.39 and a beta of 1.01. The company has a 50 day moving average of $39.66 and a 200 day moving average of $38.89.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Equities research analysts forecast that Comcast Corporation will post $2.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio (DPR) is presently 31.74%.
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CMCSA has been the topic of several research reports. Telsey Advisory Group lifted their price target on shares of Comcast Corporation from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Credit Suisse Group lifted their price target on shares of Comcast Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Barclays PLC set a $44.00 price target on shares of Comcast Corporation and gave the company a “buy” rating in a report on Friday, July 14th. Instinet reaffirmed a “buy” rating and set a $43.00 price target (down from $46.00) on shares of Comcast Corporation in a report on Saturday, April 29th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $48.00 price target on shares of Comcast Corporation in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Comcast Corporation has an average rating of “Buy” and a consensus price target of $45.69.
In other news, SVP Daniel C. Murdock sold 3,659 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.61, for a total transaction of $144,932.99. Following the completion of the sale, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth J. Bacon sold 7,500 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the sale, the director now directly owns 26,812 shares of the company’s stock, valued at approximately $1,085,886. The disclosure for this sale can be found here. 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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