Investors Buy Comcast Corporation (CMCSA) on Weakness

Traders bought shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading hours on Friday. $559.40 million flowed into the stock on the tick-up and $435.50 million flowed out of the stock on the tick-down, for a money net flow of $123.90 million into the stock. Of all companies tracked, Comcast Corporation had the 28th highest net in-flow for the day. Comcast Corporation traded down ($0.67) for the day and closed at $36.93

Several research analysts have issued reports on CMCSA shares. ValuEngine lowered Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Morgan Stanley restated an “overweight” rating and issued a $44.00 target price (up from $43.00) on shares of Comcast Corporation in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Comcast Corporation in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $47.00 target price on shares of Comcast Corporation in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Comcast Corporation in a research note on Sunday, July 9th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.83.

The stock has a 50-day moving average price of $40.00 and a 200 day moving average price of $39.17. The company has a market cap of $174.06 billion, a PE ratio of 18.60 and a beta of 1.01.

Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion during the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, equities analysts expect that Comcast Corporation will post $2.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.1575 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.71%. Comcast Corporation’s payout ratio is 31.74%.

In other news, SVP Daniel C. Murdock sold 3,659 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in CMCSA. Rockland Trust Co. boosted its position in shares of Comcast Corporation by 94.7% during the 1st quarter. Rockland Trust Co. now owns 363,637 shares of the cable giant’s stock valued at $13,669,000 after purchasing an additional 176,845 shares in the last quarter. Oakbrook Investments LLC boosted its holdings in Comcast Corporation by 499.1% in the first quarter. Oakbrook Investments LLC now owns 272,164 shares of the cable giant’s stock worth $10,231,000 after acquiring an additional 226,732 shares in the last quarter. Sky Investment Group LLC boosted its holdings in Comcast Corporation by 98.5% in the first quarter. Sky Investment Group LLC now owns 27,230 shares of the cable giant’s stock worth $1,024,000 after acquiring an additional 13,515 shares in the last quarter. Bright Rock Capital Management LLC boosted its holdings in Comcast Corporation by 100.0% in the first quarter. Bright Rock Capital Management LLC now owns 180,000 shares of the cable giant’s stock worth $6,766,000 after acquiring an additional 90,000 shares in the last quarter. Finally, City Holding Co. boosted its holdings in Comcast Corporation by 121.5% in the first quarter. City Holding Co. now owns 5,336 shares of the cable giant’s stock worth $201,000 after acquiring an additional 2,927 shares in the last quarter. Institutional investors own 82.02% of the company’s stock.

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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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