Shell Asset Management Co. decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 696,001 shares of the cable giant’s stock after selling 27,316 shares during the period. Comcast makes up about 0.7% of Shell Asset Management Co.’s investment portfolio, making the stock its 27th largest position. Shell Asset Management Co.’s holdings in Comcast were worth $23,929,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Comcast by 1.3% during the fourth quarter. State Street Corp now owns 174,110,405 shares of the cable giant’s stock valued at $7,829,745,000 after purchasing an additional 2,234,334 shares during the period. Capital International Investors boosted its stake in shares of Comcast by 30.9% during the fourth quarter. Capital International Investors now owns 134,005,521 shares of the cable giant’s stock valued at $6,026,230,000 after purchasing an additional 31,604,388 shares during the period. Capital World Investors boosted its stake in shares of Comcast by 5.7% during the fourth quarter. Capital World Investors now owns 89,091,727 shares of the cable giant’s stock valued at $4,006,456,000 after purchasing an additional 4,822,230 shares during the period. Geode Capital Management LLC boosted its stake in shares of Comcast by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 67,221,494 shares of the cable giant’s stock valued at $3,016,868,000 after purchasing an additional 506,393 shares during the period. Finally, Norges Bank purchased a new stake in shares of Comcast during the fourth quarter valued at $2,140,195,000. Institutional investors and hedge funds own 82.12% of the company’s stock.
In related news, CAO Daniel C. Murdock sold 919 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $37.53, for a total value of $34,490.07. Following the transaction, the chief accounting officer now owns 2,654 shares in the company, valued at approximately $99,604.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David N. Watson sold 202,782 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.05, for a total transaction of $7,513,073.10. Following the completion of the transaction, the executive vice president now owns 893,424 shares in the company, valued at approximately $33,101,359.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 204,739 shares of company stock worth $7,585,502. Corporate insiders own 1.35% of the company’s stock.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 30th. The cable giant reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Comcast had a net margin of 10.72% and a return on equity of 17.56%. The firm had revenue of $26.61 billion for the quarter, compared to the consensus estimate of $26.71 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that Comcast Co. will post 2.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. Comcast’s dividend payout ratio (DPR) is currently 29.39%.
A number of analysts have recently issued reports on CMCSA shares. KeyCorp lowered their target price on shares of Comcast from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Comcast in a research note on Thursday, April 30th. Nomura lowered their price objective on shares of Comcast from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. UBS Group lowered their price objective on shares of Comcast from $49.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Finally, Raymond James lowered shares of Comcast from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $48.19.
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.
Recommended Story: Do Tariffs Work?
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.