Intermede Investment Partners Ltd Purchases 17,312 Shares of Comcast Corp. (CMCSA)
Intermede Investment Partners Ltd boosted its stake in shares of Comcast Corp. (NASDAQ:CMCSA) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 854,654 shares of the cable giant’s stock after buying an additional 17,312 shares during the period. Comcast Corp. makes up 6.5% of Intermede Investment Partners Ltd’s holdings, making the stock its largest position. Intermede Investment Partners Ltd’s holdings in Comcast Corp. were worth $55,715,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CMCSA. Addenda Capital Inc. bought a new stake in Comcast Corp. during the first quarter valued at about $1,483,000. Raab & Moskowitz Asset Management LLC increased its stake in Comcast Corp. by 8.0% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 7,138 shares of the cable giant’s stock valued at $436,000 after buying an additional 526 shares in the last quarter. Virginia Retirement System bought a new stake in Comcast Corp. during the first quarter valued at about $50,612,000. Verde Servicos Internacionais S.A. increased its stake in Comcast Corp. by 69.6% in the first quarter. Verde Servicos Internacionais S.A. now owns 854,620 shares of the cable giant’s stock valued at $52,200,000 after buying an additional 350,750 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in Comcast Corp. during the first quarter valued at about $3,336,000. 82.22% of the stock is owned by institutional investors and hedge funds.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.23% during trading on Monday, hitting $66.19. 6,735,012 shares of the stock traded hands. The firm has a 50-day moving average price of $66.19 and a 200 day moving average price of $64.07. The firm has a market cap of $159.64 billion, a PE ratio of 20.12 and a beta of 1.05. Comcast Corp. has a 12 month low of $52.34 and a 12 month high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business had revenue of $18.74 billion for the quarter, compared to analysts’ expectations of $19.11 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. Comcast Corp.’s dividend payout ratio (DPR) is presently 33.43%.
A number of equities research analysts recently issued reports on the company. RBC Capital Markets reiterated an “outperform” rating and issued a $72.00 price objective (up previously from $70.00) on shares of Comcast Corp. in a research report on Thursday, July 28th. Pivotal Research reiterated a “buy” rating on shares of Comcast Corp. in a research report on Thursday, July 28th. Pacific Crest increased their price objective on Comcast Corp. from $65.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Jefferies Group increased their price objective on Comcast Corp. from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Royal Bank Of Canada increased their price objective on Comcast Corp. from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Comcast Corp. has an average rating of “Buy” and an average target price of $72.00.
In related news, EVP Arthur R. Block sold 1,023 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $65.75, for a total value of $67,262.25. Following the sale, the executive vice president now directly owns 47,539 shares of the company’s stock, valued at approximately $3,125,689.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Brian L. Roberts sold 304,109 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the sale, the chairman now directly owns 630,596 shares in the company, valued at $42,413,886.96. The disclosure for this sale can be found here. Insiders own 1.27% of the company’s stock.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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