Ropes Wealth Advisors LLC grew its position in Comcast Corporation (NASDAQ:CMCSA) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,182 shares of the cable giant’s stock after purchasing an additional 7,514 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Comcast were worth $1,136,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Bank & Trust raised its stake in Comcast by 84.9% during the 2nd quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after acquiring an additional 1,302 shares in the last quarter. Zions Bancorporation raised its stake in Comcast by 16.8% during the 1st quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after acquiring an additional 410 shares in the last quarter. Founders Capital Management acquired a new stake in Comcast during the 1st quarter worth $113,000. Pacific Center for Financial Services raised its stake in Comcast by 133.0% during the 1st quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock worth $118,000 after acquiring an additional 1,788 shares in the last quarter. Finally, Partners Capital Investment Group Holdings LLC raised its stake in Comcast by 100.0% during the 1st quarter. Partners Capital Investment Group Holdings LLC now owns 3,488 shares of the cable giant’s stock worth $131,000 after acquiring an additional 1,744 shares in the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.
Several brokerages recently commented on CMCSA. BidaskClub upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Buckingham Research initiated coverage on shares of Comcast in a research report on Monday, November 20th. They set a “buy” rating and a $48.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and set a $43.00 price objective on shares of Comcast in a research report on Friday, November 17th. OTR Global downgraded shares of Comcast to a “positive” rating in a research report on Monday, October 30th. Finally, Nomura lowered their price objective on shares of Comcast from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company. Comcast currently has an average rating of “Buy” and an average price target of $45.93.
In related news, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $37.27, for a total transaction of $83,186.64. Following the sale, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Shares of Comcast Corporation (NASDAQ:CMCSA) opened at $39.52 on Wednesday. The firm has a market cap of $179,613.02, a PE ratio of 19.07, a PEG ratio of 1.84 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.06. Comcast Corporation has a fifty-two week low of $34.03 and a fifty-two week high of $42.18.
Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $20.98 billion for 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. sell-side analysts expect that Comcast Corporation will post 2.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 2nd. Comcast’s payout ratio is 30.36%.
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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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