Traders Buy Shares of Comcast (CMCSA) on Weakness
Traders purchased shares of Comcast Co. (NASDAQ:CMCSA) on weakness during trading hours on Monday. $155.72 million flowed into the stock on the tick-up and $117.56 million flowed out of the stock on the tick-down, for a money net flow of $38.16 million into the stock. Of all equities tracked, Comcast had the 11th highest net in-flow for the day. Comcast traded down ($0.03) for the day and closed at $38.54
CMCSA has been the subject of several recent research reports. Buckingham Research upped their price objective on Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Pivotal Research reaffirmed a “buy” rating and set a $50.00 price objective on shares of Comcast in a research report on Tuesday, December 19th. Macquarie reaffirmed a “buy” rating and set a $40.00 price objective on shares of Comcast in a research report on Thursday, December 7th. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 price objective on shares of Comcast in a research report on Friday, November 17th. Finally, Nomura reduced their price objective on Comcast from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Comcast presently has a consensus rating of “Buy” and an average price target of $47.74.
The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.86. The firm has a market cap of $181,830.00, a P/E ratio of 8.14, a PEG ratio of 1.48 and a beta of 1.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 4th will be paid a $0.19 dividend. This is a positive change from Comcast’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $0.76 annualized dividend and a yield of 1.95%. Comcast’s dividend payout ratio is currently 13.18%.
In other news, Chairman Brian L. Roberts sold 583,835 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the transaction, the chairman now owns 1,711,798 shares in the company, valued at $66,195,228.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen B. Burke sold 190,756 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $42.51, for a total value of $8,109,037.56. Following the transaction, the executive vice president now owns 1,214,811 shares in the company, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 784,158 shares of company stock worth $31,070,439. 1.28% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Biegel & Waller LLC acquired a new stake in Comcast during the second quarter worth approximately $432,000. Penobscot Investment Management Company Inc. grew its position in Comcast by 3.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 98,387 shares of the cable giant’s stock worth $3,829,000 after buying an additional 2,828 shares in the last quarter. Jennison Associates LLC grew its position in Comcast by 1.4% during the second quarter. Jennison Associates LLC now owns 6,126,289 shares of the cable giant’s stock worth $238,435,000 after buying an additional 83,461 shares in the last quarter. iAB Financial Bank acquired a new stake in shares of Comcast in the 2nd quarter valued at $244,000. Finally, Quinn Opportunity Partners LLC boosted its holdings in shares of Comcast by 97.6% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 48,600 shares of the cable giant’s stock valued at $1,892,000 after purchasing an additional 24,000 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.
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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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