Mackey Komara & Dankovich LLC bought a new stake in Comcast Co. (NASDAQ:CMCSA) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 678 shares of the cable giant’s stock, valued at approximately $27,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Acima Private Wealth LLC purchased a new stake in Comcast during the 4th quarter valued at approximately $25,000. Clean Yield Group purchased a new stake in Comcast during the 1st quarter valued at approximately $25,000. Litman Gregory Asset Management LLC purchased a new stake in Comcast during the 4th quarter valued at approximately $30,000. Nalls Sherbakoff Group LLC purchased a new stake in Comcast during the 4th quarter valued at approximately $46,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in Comcast during the 4th quarter valued at approximately $57,000. 82.57% of the stock is owned by hedge funds and other institutional investors.
In other Comcast news, EVP David L. Cohen sold 4,468 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $42.00, for a total transaction of $187,656.00. Following the sale, the executive vice president now owns 269,558 shares in the company, valued at approximately $11,321,436. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen B. Burke sold 457,633 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $43.35, for a total value of $19,838,390.55. Following the sale, the executive vice president now owns 1,078,189 shares in the company, valued at approximately $46,739,493.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 469,307 shares of company stock worth $20,327,244. 1.35% of the stock is owned by insiders.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The firm had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.27 billion. Comcast had a return on equity of 17.04% and a net margin of 12.34%. Comcast’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Sell-side analysts expect that Comcast Co. will post 3.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, July 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.94%.
Several analysts have commented on CMCSA shares. Royal Bank of Canada downgraded Comcast from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $45.00 to $42.00 in a research note on Friday, March 29th. Macquarie raised Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Tuesday, April 9th. Nomura increased their target price on Comcast from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, KeyCorp increased their target price on Comcast from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.16.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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