Private Trust Co. NA Acquires 17,935 Shares of Comcast Co. (CMCSA)
Private Trust Co. NA raised its holdings in Comcast Co. (NASDAQ:CMCSA) by 64.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 45,647 shares of the cable giant’s stock after acquiring an additional 17,935 shares during the quarter. Private Trust Co. NA’s holdings in Comcast were worth $1,824,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First National Bank of Mount Dora Trust Investment Services boosted its stake in Comcast by 99.5% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 87,405 shares of the cable giant’s stock worth $3,495,000 after acquiring an additional 43,582 shares in the last quarter. Donaldson Capital Management LLC boosted its stake in Comcast by 15.6% during the first quarter. Donaldson Capital Management LLC now owns 113,021 shares of the cable giant’s stock worth $4,519,000 after acquiring an additional 15,250 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Comcast during the fourth quarter worth $150,000. Machina Capital S.A.S. bought a new position in Comcast during the fourth quarter worth $1,975,000. Finally, Pinnacle Bank bought a new position in Comcast during the fourth quarter worth $225,000. Hedge funds and other institutional investors own 81.15% of the company’s stock.
In related news, EVP David L. Cohen sold 275,746 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $37.01, for a total transaction of $10,205,359.46. Following the completion of the sale, the executive vice president now owns 650,656 shares in the company, valued at $24,080,778.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel C. Murdock sold 845 shares of the firm’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $35.55, for a total transaction of $30,039.75. Following the sale, the senior vice president now owns 1,005 shares of the company’s stock, valued at approximately $35,727.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,290,226 shares of company stock valued at $49,311,328. 1.31% of the stock is currently owned by corporate insiders.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Wednesday, January 23rd. The cable giant reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $27.85 billion during the quarter, compared to the consensus estimate of $27.56 billion. Comcast had a net margin of 12.41% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts anticipate that Comcast Co. will post 2.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. This is an increase from Comcast’s previous quarterly dividend of $0.19. Comcast’s dividend payout ratio is currently 32.94%.
A number of research analysts have weighed in on CMCSA shares. BidaskClub raised shares of Comcast from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Credit Suisse Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Comcast in a research note on Tuesday, January 22nd. Royal Bank of Canada lowered shares of Comcast from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $45.00 to $42.00 in a research note on Friday, March 29th. Macquarie raised shares of Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 9th. Finally, ValuEngine raised shares of Comcast from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.45.
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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, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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