Renaissance Group LLC Sells 27,657 Shares of Comcast Co. (NASDAQ:CMCSA)

Renaissance Group LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 4.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 619,090 shares of the cable giant’s stock after selling 27,657 shares during the quarter. Comcast accounts for about 1.2% of Renaissance Group LLC’s investment portfolio, making the stock its 23rd largest holding. Renaissance Group LLC’s holdings in Comcast were worth $27,909,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tocqueville Asset Management L.P. grew its position in Comcast by 0.4% in the third quarter. Tocqueville Asset Management L.P. now owns 188,746 shares of the cable giant’s stock worth $8,509,000 after acquiring an additional 675 shares in the last quarter. Enterprise Financial Services Corp grew its position in Comcast by 45.2% in the third quarter. Enterprise Financial Services Corp now owns 13,688 shares of the cable giant’s stock worth $617,000 after acquiring an additional 4,264 shares in the last quarter. Sciencast Management LP grew its position in Comcast by 649.6% in the third quarter. Sciencast Management LP now owns 42,728 shares of the cable giant’s stock worth $1,934,000 after acquiring an additional 37,028 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Comcast by 12.2% in the third quarter. Oppenheimer & Co. Inc. now owns 317,695 shares of the cable giant’s stock worth $14,322,000 after acquiring an additional 34,602 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Comcast by 10.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 214,423 shares of the cable giant’s stock worth $9,667,000 after acquiring an additional 19,727 shares in the last quarter. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently commented on CMCSA shares. Benchmark started coverage on Comcast in a research report on Wednesday, September 25th. They issued a “buy” rating and a $64.00 price target for the company. BidaskClub lowered Comcast from a “buy” rating to a “hold” rating in a research report on Thursday. Cfra set a $50.00 target price on Comcast and gave the company a “buy” rating in a research report on Wednesday, August 21st. Guggenheim set a $57.00 target price on Comcast and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, ValuEngine lowered Comcast from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.52.

Shares of NASDAQ:CMCSA traded down $0.07 during trading hours on Friday, hitting $44.75. 16,313,999 shares of the company’s stock traded hands, compared to its average volume of 14,522,718. The business has a fifty day moving average price of $45.45 and a 200-day moving average price of $43.72. The firm has a market capitalization of $203.71 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.86. Comcast Co. has a 1 year low of $32.61 and a 1 year high of $47.27.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 24th. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $26.83 billion for the quarter, compared to the consensus estimate of $26.77 billion. Comcast had a return on equity of 24.25% and a net margin of 11.45%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, equities analysts predict that Comcast Co. will post 3.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, January 7th. Comcast’s payout ratio is presently 32.94%.

In other news, Director Sheldon M. Bonovitz sold 5,600 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $45.47, for a total transaction of $254,632.00. Following the sale, the director now directly owns 27,912 shares of the company’s stock, valued at $1,269,158.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Daniel C. Murdock sold 848 shares of the business’s stock in a transaction on 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 in the company, valued at $151,222.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 518,696 shares of company stock worth $23,333,254. Insiders own 1.35% of the company’s stock.

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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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