Spears Abacus Advisors LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,001,561 shares of the cable giant’s stock after selling 52,191 shares during the quarter. Comcast comprises 4.8% of Spears Abacus Advisors LLC’s holdings, making the stock its 2nd largest position. Spears Abacus Advisors LLC’s holdings in Comcast were worth $38,981,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Comcast by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after acquiring an additional 8,677,771 shares during the period. State Street Corp increased its holdings in shares of Comcast by 97.6% during 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 during the period. Clearbridge Investments LLC increased its holdings in shares of Comcast 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 purchasing an additional 48,147,456 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Comcast 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 purchasing an additional 680,012 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Comcast by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 52,622,437 shares of the cable giant’s stock worth $2,048,075,000 after purchasing an additional 522,139 shares during the period. 82.50% of the stock is currently owned by hedge funds and other institutional investors.
In other Comcast news, 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 sale, the director now owns 24,580 shares in the company, valued at $916,096.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur R. Block sold 4,091 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
Shares of Comcast Corporation (CMCSA) opened at $37.89 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06. The stock has a market cap of $180,547.78, a P/E ratio of 19.17, a P/E/G ratio of 1.84 and a beta of 1.01. Comcast Corporation has a 52-week low of $34.12 and a 52-week high of $42.18.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. analysts forecast that Comcast Corporation will post 2.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be given a $0.157 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 1.66%. Comcast’s dividend payout ratio is currently 30.36%.
CMCSA has been the topic of several recent research reports. UBS reaffirmed an “overweight” rating on shares of Comcast in a report on Thursday, August 24th. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 target price on shares of Comcast in a report on Friday, September 1st. ValuEngine cut shares of Comcast from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Moffett Nathanson raised shares of Comcast from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, September 12th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “neutral” rating on shares of Comcast in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $45.72.
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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