Tower Research Capital LLC TRC Increases Position in Comcast Co. (CMCSA)
Tower Research Capital LLC TRC boosted its stake in Comcast Co. (NASDAQ:CMCSA) by 82,008.3% during the second quarter, Holdings Channel reports. The institutional investor owned 328,433 shares of the cable giant’s stock after buying an additional 328,033 shares during the period. Comcast comprises approximately 0.6% of Tower Research Capital LLC TRC’s investment portfolio, making the stock its 22nd biggest position. Tower Research Capital LLC TRC’s holdings in Comcast were worth $10,776,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. WP Advisors LLC bought a new stake in Comcast in the 2nd quarter valued at about $105,000. Prentiss Smith & Co. Inc. boosted its holdings in Comcast by 229.5% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock valued at $108,000 after purchasing an additional 2,295 shares during the period. IMA Wealth Inc. bought a new stake in Comcast in the 2nd quarter valued at about $108,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Comcast in the 2nd quarter valued at about $129,000. Finally, Rainier Group Investment Advisory LLC bought a new stake in Comcast in the 1st quarter valued at about $146,000. Institutional investors and hedge funds own 80.24% of the company’s stock.
A number of analysts have issued reports on the stock. Pivotal Research reissued a “buy” rating on shares of Comcast in a report on Friday, August 10th. Atlantic Securities raised shares of Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Monday, August 6th. Robert W. Baird cut their price objective on shares of Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group initiated coverage on shares of Comcast in a report on Tuesday, July 10th. They issued a “neutral” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.79.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 26th. The cable giant reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.85 billion. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. research analysts forecast that Comcast Co. will post 2.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.06%. The ex-dividend date is Tuesday, October 2nd. Comcast’s payout ratio is 36.89%.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
See Also: Price to Earnings Ratio (PE) Basics
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.