Institute for Wealth Management LLC. decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,012 shares of the cable giant’s stock after selling 2,713 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Comcast were worth $1,173,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CMCSA. Krane Funds Advisors LLC purchased a new position in Comcast during the 2nd quarter worth $25,000. Evolution Wealth Advisors LLC purchased a new position in Comcast during the 2nd quarter worth $26,000. Guidant Wealth Advisors purchased a new position in Comcast during the 3rd quarter worth $31,000. Bray Capital Advisors purchased a new position in Comcast during the 2nd quarter worth $30,000. Finally, Litman Gregory Asset Management LLC purchased a new position in Comcast during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 82.82% of the company’s stock.
In other Comcast news, SVP Daniel C. Murdock sold 848 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total transaction of $37,507.04. Following the sale, the senior vice president now directly owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth J. Bacon sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total transaction of $180,120.00. Following the sale, the director now directly owns 29,603 shares in the company, valued at $1,333,023.09. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on CMCSA. Bank of America set a $58.00 price objective on shares of Comcast and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Oppenheimer raised shares of Comcast from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Thursday, September 5th. BidaskClub raised shares of Comcast from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. ValuEngine cut shares of Comcast from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim set a $57.00 price target on shares of Comcast and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company. Comcast presently has an average rating of “Buy” and a consensus target price of $50.41.
NASDAQ CMCSA traded down $0.21 during trading hours on Monday, reaching $45.44. The company’s stock had a trading volume of 14,824,000 shares, compared to its average volume of 17,895,051. The stock has a market cap of $203.80 billion, a PE ratio of 17.82, a PEG ratio of 1.23 and a beta of 1.08. Comcast Co. has a fifty-two week low of $32.61 and a fifty-two week high of $47.27. The company’s 50-day moving average is $45.61 and its two-hundred day moving average is $43.57. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.69 and a current ratio of 0.86.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 24th. The cable giant reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. The firm had revenue of $26.83 billion for the quarter, compared to analysts’ expectations of $26.77 billion. Comcast had a net margin of 11.45% and a return on equity of 17.97%. The firm’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. Equities analysts expect that Comcast Co. will post 3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $0.84 dividend on an annualized basis and a yield of 1.85%. Comcast’s payout ratio is 32.94%.
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.
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