Tiger Global Management LLC Acquires 2,050,000 Shares of Comcast Corporation (CMCSA)
Tiger Global Management LLC increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 39.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,250,000 shares of the cable giant’s stock after purchasing an additional 2,050,000 shares during the period. Comcast accounts for 2.4% of Tiger Global Management LLC’s investment portfolio, making the stock its 11th largest holding. Tiger Global Management LLC owned 0.15% of Comcast worth $282,170,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CMCSA. HighTower Advisors LLC lifted its stake in shares of Comcast by 4.7% in the second quarter. HighTower Advisors LLC now owns 920,687 shares of the cable giant’s stock valued at $35,856,000 after purchasing an additional 41,350 shares during the period. People s United Financial Inc. lifted its stake in shares of Comcast by 8.3% in the second quarter. People s United Financial Inc. now owns 213,828 shares of the cable giant’s stock valued at $8,323,000 after purchasing an additional 16,470 shares during the period. QS Investors LLC lifted its stake in shares of Comcast by 1.9% in the second quarter. QS Investors LLC now owns 585,147 shares of the cable giant’s stock valued at $22,774,000 after purchasing an additional 10,991 shares during the period. Frontier Wealth Management LLC lifted its stake in shares of Comcast by 12.9% in the second quarter. Frontier Wealth Management LLC now owns 7,572 shares of the cable giant’s stock valued at $295,000 after purchasing an additional 868 shares during the period. Finally, InterOcean Capital LLC lifted its stake in shares of Comcast by 23.4% in the second quarter. InterOcean Capital LLC now owns 7,432 shares of the cable giant’s stock valued at $289,000 after purchasing an additional 1,410 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.
In other news, Director Kenneth J. Bacon sold 2,232 shares of Comcast stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the completion of the sale, the director now directly owns 24,580 shares in the company, valued at $916,096.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Arthur R. Block sold 4,091 shares of Comcast stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the sale, the executive vice president now owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
Several analysts recently commented on the stock. ValuEngine cut shares of Comcast from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and issued a $43.00 price objective on shares of Comcast in a research note on Friday, September 1st. BidaskClub upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. UBS reiterated an “overweight” rating on shares of Comcast in a research note on Thursday, August 24th. Finally, Macquarie reiterated a “buy” rating and issued a $40.00 price objective on shares of Comcast in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.72.
Shares of Comcast Corporation (NASDAQ CMCSA) opened at $37.95 on Monday. The company has a market cap of $177,370.00, a PE ratio of 18.83, a PEG ratio of 1.81 and a beta of 1.00. Comcast Corporation has a twelve month low of $34.12 and a twelve month high of $42.18. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. research analysts predict that Comcast Corporation will post 2.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.65%. Comcast’s dividend payout ratio (DPR) is presently 29.72%.
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Comcast 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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