HGK Asset Management Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 14.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,578 shares of the cable giant’s stock after selling 53,650 shares during the quarter. HGK Asset Management Inc.’s holdings in Comcast Corporation were worth $12,360,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Biegel & Waller LLC bought a new stake in Comcast Corporation in the second quarter valued at about $432,000. Penobscot Investment Management Company Inc. increased its holdings in Comcast Corporation by 3.0% in the second quarter. Penobscot Investment Management Company Inc. now owns 98,387 shares of the cable giant’s stock valued at $3,829,000 after purchasing an additional 2,828 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Comcast Corporation by 573.3% in the first quarter. WINTON GROUP Ltd now owns 219,526 shares of the cable giant’s stock valued at $14,563,000 after purchasing an additional 186,920 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Comcast Corporation by 100.9% in the first quarter. Artisan Partners Limited Partnership now owns 899,227 shares of the cable giant’s stock valued at $33,802,000 after purchasing an additional 451,551 shares during the last quarter. Finally, Tower Bridge Advisors increased its holdings in Comcast Corporation by 10.1% in the second quarter. Tower Bridge Advisors now owns 142,129 shares of the cable giant’s stock valued at $5,532,000 after purchasing an additional 13,003 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.
A number of equities research analysts recently commented on CMCSA shares. ValuEngine downgraded Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Moffett Nathanson upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. Pivotal Research increased their price target on Comcast Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 27th. KeyCorp restated a “neutral” rating on shares of Comcast Corporation in a report on Sunday, September 17th. Finally, Barclays PLC lowered their price target on Comcast Corporation from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.84.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Comcast Corporation had a return on equity of 17.17% and a net margin of 11.99%. The firm had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. equities analysts predict that Comcast Corporation will post 2.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be given a dividend of $0.157 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.75%. Comcast Corporation’s dividend payout ratio (DPR) is presently 29.72%.
In other news, EVP Arthur R. Block sold 4,091 shares of the firm’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 completion of the sale, the executive vice president now directly 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 is accessible through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now directly owns 24,580 shares of the company’s stock, valued at $916,096.60. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
Comcast Corporation Company Profile
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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