Concert Wealth Management Inc. cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 54.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,124 shares of the cable giant’s stock after selling 8,461 shares during the period. Concert Wealth Management Inc.’s holdings in Comcast Corporation were worth $276,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock worth $7,499,933,000 after purchasing an additional 98,570,377 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Comcast Corporation by 97.6% during the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after acquiring an additional 48,147,456 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Comcast Corporation by 95.7% during the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after acquiring an additional 29,199,805 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Comcast Corporation by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock worth $2,218,587,000 after acquiring an additional 680,012 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Comcast Corporation by 56.9% during the first quarter. First Eagle Investment Management LLC now owns 34,799,928 shares of the cable giant’s stock worth $1,308,129,000 after acquiring an additional 12,625,830 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.
Comcast Corporation (NASDAQ CMCSA) opened at $36.16 on Monday. Comcast Corporation has a 12-month low of $33.97 and a 12-month high of $42.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $169,000.00, a PE ratio of 17.94, a PEG ratio of 1.91 and a beta of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be given a $0.157 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, January 2nd. Comcast Corporation’s payout ratio is 29.72%.
CMCSA has been the subject of a number of recent research reports. Argus boosted their target price on Comcast Corporation from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Guggenheim upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $46.00 in a research report on Thursday, August 3rd. Robert W. Baird restated a “buy” rating and set a $43.00 target price on shares of Comcast Corporation in a research report on Friday, September 1st. Moffett Nathanson upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price objective on shares of Comcast Corporation in a report on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $45.84.
In other news, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value of $156,930.76. Following the transaction, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
About Comcast Corporation
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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