Gyroscope Capital Management Group LLC Sells 9,506 Shares of Comcast Co. (NASDAQ:CMCSA)

Gyroscope Capital Management Group LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,277 shares of the cable giant’s stock after selling 9,506 shares during the period. Comcast makes up 3.1% of Gyroscope Capital Management Group LLC’s investment portfolio, making the stock its 8th largest position. Gyroscope Capital Management Group LLC’s holdings in Comcast were worth $7,943,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC raised its holdings in shares of Comcast by 1,088.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 40,918,884 shares of the cable giant’s stock valued at $1,730,050,000 after buying an additional 37,474,814 shares during the period. APG Asset Management N.V. raised its holdings in shares of Comcast by 89.7% in the 2nd quarter. APG Asset Management N.V. now owns 19,074,628 shares of the cable giant’s stock valued at $708,180,000 after buying an additional 9,020,100 shares during the period. BlackRock Inc. raised its holdings in shares of Comcast by 2.7% in the 2nd quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock valued at $13,748,022,000 after buying an additional 8,635,296 shares during the period. Vanguard Group Inc. raised its holdings in shares of Comcast by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock valued at $16,552,290,000 after buying an additional 7,792,136 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd purchased a new stake in shares of Comcast in the 2nd quarter valued at $305,744,000. 82.75% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. ValuEngine downgraded Comcast from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Cfra set a $50.00 price objective on Comcast and gave the company a “buy” rating in a report on Wednesday, August 21st. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Goldman Sachs Group upgraded Comcast from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $54.00 in a report on Wednesday, July 10th. Finally, Wells Fargo & Co started coverage on Comcast in a report on Tuesday, August 27th. They set an “outperform” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.70.

Shares of NASDAQ:CMCSA traded up $1.00 on Friday, hitting $45.50. 804,351 shares of the company’s stock were exchanged, compared to its average volume of 16,185,189. The firm’s 50-day moving average is $45.06 and its 200 day moving average is $43.15. The company has a market capitalization of $200.48 billion, a PE ratio of 17.86, a P/E/G ratio of 1.21 and a beta of 1.08. Comcast Co. has a 1-year low of $32.61 and a 1-year high of $47.27. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.69 and a current ratio of 0.69.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The business had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. On average, analysts anticipate that Comcast Co. will post 3.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. Comcast’s dividend payout ratio is currently 32.94%.

In related news, SVP Daniel C. Murdock sold 848 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total value of $37,507.04. Following the completion of the sale, the senior vice president now directly owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth J. Bacon sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.03, for a total value of $180,120.00. Following the completion of the sale, the director now directly owns 29,603 shares of the company’s stock, valued at $1,333,023.09. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Comcast Company Profile

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.

Further Reading: Overbought

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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