Investment Management of Virginia LLC trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 1.6% during the third quarter, Holdings Channel reports. The institutional investor owned 75,767 shares of the cable giant’s stock after selling 1,235 shares during the quarter. Investment Management of Virginia LLC’s holdings in Comcast were worth $3,416,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Comcast by 2.0% in the second quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock worth $16,552,290,000 after purchasing an additional 7,792,136 shares in the last quarter. BlackRock Inc. increased its stake in shares of Comcast by 2.7% in the second quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock worth $13,748,022,000 after purchasing an additional 8,635,296 shares in the last quarter. Invesco Ltd. grew its stake in Comcast by 3.0% during the second 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 grew its stake in Comcast by 1.9% during the second 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 grew its stake in Comcast by 9.0% during the second 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. 82.79% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Sheldon M. Bonovitz sold 5,600 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $45.47, for a total value of $254,632.00. Following the completion of the sale, the director now directly owns 27,912 shares in the company, valued at approximately $1,269,158.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth J. Bacon sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total transaction of $180,120.00. Following the completion of the sale, the director now owns 29,603 shares of the company’s stock, valued at $1,333,023.09. The disclosure for this sale can be found here. In the last three months, insiders sold 518,696 shares of company stock valued at $23,333,254. Corporate insiders own 1.35% of the company’s stock.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 24th. The cable giant reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. Comcast had a net margin of 11.45% and a return on equity of 24.25%. The business had revenue of $26.83 billion during the quarter, compared to analysts’ expectations of $26.77 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities analysts predict that Comcast Co. will post 3.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $0.84 dividend on an annualized basis and a yield of 1.86%. Comcast’s dividend payout ratio is presently 32.94%.
Several brokerages recently commented on CMCSA. Wolfe Research set a $56.00 price objective on shares of Comcast and gave the company a “buy” rating in a research note on Friday, October 25th. Benchmark began coverage on shares of Comcast in a research note on Wednesday, September 25th. They set a “buy” rating and a $64.00 price objective for the company. Pivotal Research boosted their price objective on shares of Comcast from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. ValuEngine cut shares of Comcast from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim set a $57.00 price objective on shares of Comcast and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the stock. Comcast currently has a consensus rating of “Buy” and a consensus target price of $50.52.
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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