Leith Wheeler Investment Counsel Ltd. purchased a new stake in Comcast Co. (NASDAQ:CMCSA – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 22,731 shares of the cable giant’s stock, valued at approximately $1,064,000.
A number of other large investors have also recently made changes to their positions in CMCSA. Norges Bank bought a new position in Comcast in the 4th quarter valued at $2,507,025,000. Capital Research Global Investors boosted its holdings in Comcast by 8.8% in the 4th quarter. Capital Research Global Investors now owns 156,125,921 shares of the cable giant’s stock valued at $7,857,828,000 after purchasing an additional 12,642,202 shares during the period. Marshall Wace LLP boosted its holdings in Comcast by 911.0% in the 4th quarter. Marshall Wace LLP now owns 7,571,121 shares of the cable giant’s stock valued at $381,055,000 after purchasing an additional 6,822,276 shares during the period. SRS Investment Management LLC lifted its holdings in shares of Comcast by 162.9% during the 4th quarter. SRS Investment Management LLC now owns 7,187,614 shares of the cable giant’s stock worth $361,753,000 after acquiring an additional 4,454,106 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Comcast by 2.4% during the 4th quarter. State Street Corp now owns 178,004,947 shares of the cable giant’s stock worth $8,958,989,000 after acquiring an additional 4,198,673 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Comcast from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $62.00 to $60.00 in a report on Friday, April 29th. Pivotal Research dropped their price objective on shares of Comcast from $62.00 to $57.00 in a report on Thursday, April 28th. TD Securities dropped their price objective on shares of Comcast from $65.00 to $60.00 in a report on Wednesday. Finally, Wolfe Research downgraded shares of Comcast from an “outperform” rating to a “peer perform” rating and lowered their price target for the stock from $63.00 to $50.00 in a research note on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus price target of $56.58.
Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The cable giant reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Comcast had a net margin of 11.96% and a return on equity of 15.92%. The company had revenue of $31.01 billion for the quarter, compared to analysts’ expectations of $30.40 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. Comcast’s quarterly revenue was up 14.0% on a year-over-year basis. Research analysts anticipate that Comcast Co. will post 3.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, July 5th. Comcast’s dividend payout ratio is currently 34.84%.
In other Comcast news, CAO Daniel C. Murdock sold 8,929 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $44.50, for a total value of $397,340.50. Following the sale, the chief accounting officer now owns 1,817 shares in the company, valued at $80,856.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.11% of the stock is owned by insiders.
About Comcast (Get Rating)
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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