TimesSquare Capital Management LLC purchased a new stake in Comcast Co. (NASDAQ:CMCSA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 198,685 shares of the cable giant’s stock, valued at approximately $7,645,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. Pennsylvania Trust Co raised its stake in Comcast by 19.1% during the 2nd quarter. Pennsylvania Trust Co now owns 647,172 shares of the cable giant’s stock valued at $25,188,000 after purchasing an additional 103,959 shares during the period. NN Investment Partners Holdings N.V. raised its stake in Comcast by 63.3% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 4,087,542 shares of the cable giant’s stock valued at $159,087,000 after purchasing an additional 1,584,977 shares during the period. Bank of The West raised its stake in Comcast by 4.5% during the 2nd quarter. Bank of The West now owns 268,587 shares of the cable giant’s stock valued at $10,454,000 after purchasing an additional 11,470 shares during the period. Union Bankshares Corp raised its stake in Comcast by 1.2% during the 2nd quarter. Union Bankshares Corp now owns 8,743 shares of the cable giant’s stock valued at $340,000 after purchasing an additional 101 shares during the period. Finally, Northstar Group Inc. raised its stake in Comcast by 11.2% during the 2nd quarter. Northstar Group Inc. now owns 9,228 shares of the cable giant’s stock valued at $359,000 after purchasing an additional 930 shares during the period. 82.20% of the stock is currently owned by institutional investors.
Shares of Comcast Co. (CMCSA) opened at $42.50 on Friday. The stock has a market cap of $198,635.27, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.84 and a beta of 1.00. Comcast Co. has a fifty-two week low of $34.78 and a fifty-two week high of $42.71. 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 (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The firm had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. Comcast’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. analysts anticipate that Comcast Co. will post 2.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a $0.157 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, January 2nd. Comcast’s dividend payout ratio is presently 30.36%.
In other Comcast news, EVP Arthur R. Block sold 3,937 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares in the company, valued at $2,678,726.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 5,630 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $39.89, for a total transaction of $224,580.70. Following the sale, the executive vice president now owns 71,664 shares of the company’s stock, valued at $2,858,676.96. The disclosure for this sale can be found here. Insiders sold 593,402 shares of company stock valued at $22,961,401 over the last quarter. 1.28% of the stock is currently owned by corporate insiders.
CMCSA has been the topic of a number of research reports. Pivotal Research upped their price target on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Barclays dropped their price target on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $49.00 price target on shares of Comcast in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $43.00 price target on shares of Comcast in a research note on Friday, November 17th. Finally, Morgan Stanley upped their price target on shares of Comcast from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.83.
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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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