YorkBridge Wealth Partners LLC lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,044 shares of the cable giant’s stock after selling 1,195 shares during the period. Comcast comprises 1.0% of YorkBridge Wealth Partners LLC’s holdings, making the stock its 28th largest position. YorkBridge Wealth Partners LLC’s holdings in Comcast were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in CMCSA. Vanguard Group Inc. raised its holdings in shares of Comcast by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock worth $16,552,290,000 after acquiring an additional 7,792,136 shares during the period. BlackRock Inc. raised its holdings in Comcast by 2.7% in the 2nd quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock valued at $13,748,022,000 after acquiring an additional 8,635,296 shares in the last quarter. Invesco Ltd. raised its holdings in Comcast by 3.0% in the 2nd quarter. Invesco Ltd. now owns 61,356,936 shares of the cable giant’s stock valued at $2,594,171,000 after acquiring an additional 1,759,655 shares in the last quarter. Northern Trust Corp raised its holdings in Comcast by 1.9% in the 2nd quarter. Northern Trust Corp now owns 54,866,448 shares of the cable giant’s stock valued at $2,319,753,000 after acquiring an additional 1,009,589 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Comcast by 9.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 53,688,862 shares of the cable giant’s stock valued at $2,269,965,000 after acquiring an additional 4,446,292 shares in the last quarter. 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 company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total transaction of $37,507.04. Following the transaction, the senior vice president now owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kenneth J. Bacon sold 4,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the transaction, the director now directly owns 29,603 shares in the company, valued at approximately $1,333,023.09. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The business had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. Comcast’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. As a group, research analysts forecast that Comcast Co. will post 3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. Comcast’s dividend payout ratio (DPR) is presently 32.94%.
CMCSA has been the subject of several recent research reports. Sanford C. Bernstein initiated coverage on Comcast in a report on Tuesday, October 15th. They issued a “market perform” rating and a $50.00 price target for the company. Citigroup upped their price target on Comcast from $50.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 4th. Wells Fargo & Co began coverage on Comcast in a research note on Tuesday, August 27th. They issued an “outperform” rating and a $50.00 price objective on the stock. ValuEngine lowered Comcast from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Goldman Sachs Group upgraded Comcast from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $54.00 in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $49.06.
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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