Synovus Financial Corp lessened its position in Comcast Co. (NASDAQ:CMCSA) by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,638 shares of the cable giant’s stock after selling 36,707 shares during the quarter. Synovus Financial Corp’s holdings in Comcast were worth $2,027,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sky Investment Group LLC increased its position in Comcast by 7.3% during the 4th quarter. Sky Investment Group LLC now owns 37,132 shares of the cable giant’s stock valued at $1,487,000 after buying an additional 2,536 shares in the last quarter. Convergence Investment Partners LLC increased its position in Comcast by 32.1% during the 4th quarter. Convergence Investment Partners LLC now owns 104,969 shares of the cable giant’s stock valued at $4,204,000 after buying an additional 25,508 shares in the last quarter. Elkhorn Investments LLC increased its position in Comcast by 10.4% during the 2nd quarter. Elkhorn Investments LLC now owns 34,702 shares of the cable giant’s stock valued at $1,374,000 after buying an additional 3,273 shares in the last quarter. Swiss National Bank increased its position in Comcast by 0.9% during the 3rd quarter. Swiss National Bank now owns 18,023,300 shares of the cable giant’s stock valued at $693,537,000 after buying an additional 162,000 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Comcast by 1.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 100,285 shares of the cable giant’s stock valued at $4,016,000 after buying an additional 1,853 shares in the last quarter. Institutional investors own 83.49% of the company’s stock.
A number of research analysts recently weighed in on CMCSA shares. Pivotal Research reaffirmed a “buy” rating and set a $113.00 price objective on shares of Comcast in a research report on Wednesday, February 28th. Scotiabank set a $52.00 price objective on Comcast and gave the company a “buy” rating in a research report on Friday, January 19th. Evercore ISI reissued an “outperform” rating and issued a $48.00 target price (up previously from $44.00) on shares of Comcast in a report on Tuesday, January 9th. Buckingham Research lifted their target price on Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 8th. Finally, UBS reduced their target price on Comcast from $49.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.76.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The company had revenue of $21.92 billion during the quarter, compared to analyst estimates of $21.83 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. Comcast’s revenue was up 4.2% compared to the same quarter last year. equities research analysts predict that Comcast Co. will post 2.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 4th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.22%. This is a positive change from Comcast’s previous quarterly dividend of $0.16. Comcast’s payout ratio is presently 30.58%.
In related news, SVP Daniel C. Murdock sold 1,891 shares of Comcast stock in a transaction on Monday, March 19th. The stock was sold at an average price of $35.60, for a total value of $67,319.60. Following the completion of the sale, the senior vice president now owns 2,585 shares of the company’s stock, valued at $92,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen B. Burke sold 190,756 shares of Comcast stock in a transaction on Friday, January 26th. The stock was sold at an average price of $42.51, for a total value of $8,109,037.56. Following the completion of the sale, the executive vice president now directly owns 1,214,811 shares of the company’s stock, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. Insiders sold 1,399,951 shares of company stock valued at $52,377,633 in the last ninety days. 1.28% of the stock is currently owned by corporate insiders.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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