Watch Point Trust Co grew its stake in Comcast Co. (NASDAQ:CMCSA) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,919 shares of the cable giant’s stock after purchasing an additional 12,502 shares during the quarter. Comcast comprises approximately 2.5% of Watch Point Trust Co’s holdings, making the stock its 9th largest holding. Watch Point Trust Co’s holdings in Comcast were worth $4,478,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of CMCSA. Clean Yield Group acquired a new stake in Comcast during the 1st quarter worth $25,000. Evolution Wealth Advisors LLC acquired a new stake in Comcast during the 2nd quarter worth $26,000. Mackey Komara & Dankovich LLC acquired a new stake in Comcast during the 1st quarter worth $27,000. Bray Capital Advisors acquired a new stake in Comcast during the 2nd quarter worth $30,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in Comcast during the 2nd quarter worth $31,000. 82.66% of the stock is currently owned by institutional investors.
Several brokerages recently commented on CMCSA. KeyCorp raised their price objective on Comcast from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research note on Thursday. Goldman Sachs Group raised Comcast from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $54.00 in a research note on Wednesday, July 10th. Morgan Stanley raised their price objective on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Macquarie began coverage on Comcast in a research note on Wednesday, June 19th. They set a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.44.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts predict that Comcast Co. will post 3.07 earnings per share for the current year.
In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the completion of the transaction, the senior vice president now owns 4,712 shares in the company, valued at approximately $195,359.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.35% 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, 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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