Pacer Advisors Inc. cut its position in Comcast Co. (NASDAQ:CMCSA) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,191 shares of the cable giant’s stock after selling 27,966 shares during the period. Comcast accounts for approximately 0.4% of Pacer Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Pacer Advisors Inc.’s holdings in Comcast were worth $21,763,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Partners LLC acquired a new stake in shares of Comcast in the 4th quarter valued at about $30,000. Sterling Financial Planning Inc. acquired a new position in Comcast during the 4th quarter valued at about $32,000. McCarthy Asset Management Inc. acquired a new position in Comcast during the 4th quarter valued at about $34,000. ADE LLC acquired a new position in Comcast during the 4th quarter valued at about $37,000. Finally, Accel Wealth Management acquired a new position in Comcast during the 4th quarter valued at about $38,000. Institutional investors own 82.56% of the company’s stock.
A number of research firms have issued reports on CMCSA. Credit Suisse Group lifted their price target on Comcast from $61.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, March 24th. Benchmark lifted their price target on Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 9th. They noted that the move was a valuation call. Citigroup lifted their target price on shares of Comcast from $54.00 to $59.00 in a research report on Friday, January 29th. Macquarie lifted their target price on shares of Comcast from $53.00 to $58.00 in a research report on Thursday, January 14th. Finally, Pivotal Research lifted their target price on shares of Comcast from $60.00 to $63.00 in a research report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Comcast has an average rating of “Buy” and an average price target of $56.94.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 28th. The cable giant reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Comcast had a return on equity of 15.45% and a net margin of 9.90%. The firm had revenue of $27.71 billion for the quarter, compared to analysts’ expectations of $26.79 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts expect that Comcast Co. will post 2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, April 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, April 6th. This is a boost from Comcast’s previous quarterly dividend of $0.23. Comcast’s dividend payout ratio is currently 29.39%.
In related news, Director Maritza Gomez Montiel sold 2,000 shares of the stock in a transaction dated Thursday, January 28th. The stock was sold at an average price of $49.97, for a total transaction of $99,940.00. Following the sale, the director now owns 13,170 shares of the company’s stock, valued at approximately $658,104.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is owned by corporate insiders.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.
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