Letko Brosseau & Associates Inc. Has $128.64 Million Holdings in Comcast Corporation (CMCSA)
Letko Brosseau & Associates Inc. reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,305,329 shares of the cable giant’s stock after selling 254,850 shares during the quarter. Letko Brosseau & Associates Inc. owned about 0.07% of Comcast worth $128,643,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CMCSA. KCM Investment Advisors LLC grew its stake in shares of Comcast by 1.5% during the second quarter. KCM Investment Advisors LLC now owns 278,037 shares of the cable giant’s stock valued at $10,821,000 after buying an additional 4,229 shares during the last quarter. Comerica Securities Inc. grew its stake in shares of Comcast by 3.4% during the second quarter. Comerica Securities Inc. now owns 19,684 shares of the cable giant’s stock valued at $769,000 after buying an additional 647 shares during the last quarter. Courier Capital LLC grew its stake in shares of Comcast by 3.1% during the second quarter. Courier Capital LLC now owns 51,752 shares of the cable giant’s stock valued at $2,014,000 after buying an additional 1,540 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of Comcast by 3.2% during the second quarter. King Luther Capital Management Corp now owns 95,730 shares of the cable giant’s stock valued at $3,726,000 after buying an additional 2,990 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Comcast by 6.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 59,288 shares of the cable giant’s stock valued at $2,307,000 after buying an additional 3,463 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.
CMCSA has been the subject of a number of research reports. ValuEngine lowered Comcast from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Pivotal Research boosted their price target on Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 27th. Moffett Nathanson upgraded Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. KeyCorp reiterated a “neutral” rating on shares of Comcast in a report on Sunday, September 17th. Finally, Barclays PLC lowered their price target on Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Comcast presently has an average rating of “Buy” and an average price target of $45.93.
Shares of Comcast Corporation (CMCSA) opened at $35.87 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $167,648.16, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.88 and a beta of 1.00. Comcast Corporation has a twelve month low of $34.01 and a twelve month high of $42.18.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.05 billion. Comcast had a return on equity of 17.17% and a net margin of 11.99%. Comcast’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. equities analysts forecast that Comcast Corporation will post 2.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued 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 1.75%. Comcast’s dividend payout ratio is currently 30.36%.
In other Comcast news, EVP Arthur R. Block sold 4,091 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at $2,626,816.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the sale, the director now owns 24,580 shares of the company’s stock, valued at approximately $916,096.60. The disclosure for this sale can be found here. 1.28% of the stock is owned by corporate insiders.
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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