Oppenheimer Asset Management Inc. Invests $7.25 Million in Comcast Corporation (CMCSA)
Oppenheimer Asset Management Inc. acquired a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 192,919 shares of the cable giant’s stock, valued at approximately $7,251,000.
Several other institutional investors have also made changes to their positions in the stock. M Holdings Securities Inc. boosted its stake in shares of Comcast Corporation by 5.6% in the fourth quarter. M Holdings Securities Inc. now owns 4,750 shares of the cable giant’s stock valued at $328,000 after buying an additional 254 shares during the period. Pegasus Partners Ltd. boosted its stake in shares of Comcast Corporation by 1.9% in the fourth quarter. Pegasus Partners Ltd. now owns 14,568 shares of the cable giant’s stock valued at $1,006,000 after buying an additional 265 shares during the period. Highbridge Capital Management LLC boosted its stake in shares of Comcast Corporation by 2.6% in the fourth quarter. Highbridge Capital Management LLC now owns 10,975 shares of the cable giant’s stock valued at $758,000 after buying an additional 279 shares during the period. Whalerock Point Partners LLC boosted its stake in shares of Comcast Corporation by 1.7% in the fourth quarter. Whalerock Point Partners LLC now owns 18,305 shares of the cable giant’s stock valued at $1,264,000 after buying an additional 300 shares during the period. Finally, Oxbow Advisors LLC boosted its stake in shares of Comcast Corporation by 7.9% in the first quarter. Oxbow Advisors LLC now owns 5,496 shares of the cable giant’s stock valued at $207,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 82.32% of the company’s stock.
Comcast Corporation (CMCSA) traded up 0.27% on Friday, hitting $40.84. The stock had a trading volume of 4,548,106 shares. Comcast Corporation has a 12 month low of $30.02 and a 12 month high of $42.18. The firm’s 50 day moving average price is $39.44 and its 200-day moving average price is $38.74. The stock has a market cap of $192.49 billion, a PE ratio of 20.57 and a beta of 1.01.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. On average, analysts forecast that Comcast Corporation will post $2.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. Comcast Corporation’s dividend payout ratio (DPR) is currently 31.74%.
Several equities research analysts have recently issued reports on the company. Moffett Nathanson cut Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Tuesday, June 20th. ValuEngine cut Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim raised Comcast Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $46.00 in a report on Thursday, August 3rd. BidaskClub cut Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Argus lifted their target price on Comcast Corporation from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $45.69.
In related news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now directly owns 725 shares of the company’s stock, valued at $28,717.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kenneth J. Bacon sold 7,500 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the sale, the director now directly owns 26,812 shares of the company’s stock, valued at $1,085,886. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.
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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