Sterling Investment Advisors Ltd. Buys 2,600 Shares of Comcast Co. (CMCSA)
Sterling Investment Advisors Ltd. grew its stake in Comcast Co. (NASDAQ:CMCSA) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,893 shares of the cable giant’s stock after purchasing an additional 2,600 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Comcast were worth $1,195,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Intermede Investment Partners Ltd boosted its position in Comcast by 13.6% in the 1st quarter. Intermede Investment Partners Ltd now owns 2,099,035 shares of the cable giant’s stock worth $83,919,000 after purchasing an additional 251,188 shares in the last quarter. Bridges Investment Management Inc. boosted its position in Comcast by 5.5% in the 1st quarter. Bridges Investment Management Inc. now owns 490,144 shares of the cable giant’s stock worth $19,595,000 after purchasing an additional 25,595 shares in the last quarter. Patriot Investment Management Inc. purchased a new stake in Comcast in the 1st quarter worth approximately $223,000. First National Bank of Omaha boosted its position in Comcast by 0.5% in the 1st quarter. First National Bank of Omaha now owns 737,805 shares of the cable giant’s stock worth $29,498,000 after purchasing an additional 3,353 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust boosted its position in Comcast by 7.7% in the 1st quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the cable giant’s stock worth $560,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.
In related news, SVP Daniel C. Murdock sold 1,038 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $42.00, for a total value of $43,596.00. Following the completion of the transaction, the senior vice president now directly owns 3,707 shares of the company’s stock, valued at approximately $155,694. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur R. Block sold 13,765 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $39.43, for a total value of $542,753.95. Following the completion of the transaction, the executive vice president now directly owns 68,878 shares of the company’s stock, valued at $2,715,859.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 849,537 shares of company stock valued at $35,489,480. 1.35% of the stock is owned by corporate insiders.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Comcast had a return on equity of 17.04% and a net margin of 12.34%. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.27 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts expect that Comcast Co. will post 3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.05%. The ex-dividend date is Tuesday, July 2nd. Comcast’s dividend payout ratio is currently 32.94%.
CMCSA has been the topic of several recent research reports. TD Securities upped their price objective on Comcast from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Guggenheim upgraded Comcast from a “neutral” rating to a “buy” rating and set a $42.31 target price on the stock in a research report on Thursday, May 30th. ValuEngine upgraded Comcast from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Nomura increased their target price on Comcast from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Comcast currently has a consensus rating of “Buy” and a consensus price target of $44.54.
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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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