Johnston Asset Management LLC Decreases Stake in Comcast Corp. (CMCSA)
Johnston Asset Management LLC reduced its stake in Comcast Corp. (NASDAQ:CMCSA) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 498,924 shares of the cable giant’s stock after selling 27,270 shares during the period. Comcast Corp. accounts for 1.7% of Johnston Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Johnston Asset Management LLC’s holdings in Comcast Corp. were worth $32,525,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakworth Capital Inc. raised its position in Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock valued at $107,000 after buying an additional 326 shares in the last quarter. Cribstone Capital Management LLC bought a new position in Comcast Corp. during the second quarter valued at about $115,000. CWM LLC raised its position in Comcast Corp. by 25.1% in the second quarter. CWM LLC now owns 2,051 shares of the cable giant’s stock valued at $134,000 after buying an additional 411 shares in the last quarter. City Holding Co. raised its position in Comcast Corp. by 6.0% in the second quarter. City Holding Co. now owns 2,169 shares of the cable giant’s stock valued at $141,000 after buying an additional 122 shares in the last quarter. Finally, Kanaly Trust Co raised its position in Comcast Corp. by 4.0% in the second quarter. Kanaly Trust Co now owns 2,369 shares of the cable giant’s stock valued at $154,000 after buying an additional 91 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during midday trading on Friday, reaching $65.36. The company had a trading volume of 7,471,618 shares. The stock has a market capitalization of $157.64 billion, a PE ratio of 19.87 and a beta of 1.05. Comcast Corp. has a 12-month low of $52.34 and a 12-month high of $68.36. The stock’s 50 day moving average is $66.01 and its 200-day moving average is $64.15.
Comcast Corp. (NASDAQ:CMCSA) last issued its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. Comcast Corp. had a return on equity of 15.04% and a net margin of 10.70%. The business earned $18.74 billion during the quarter, compared to analysts’ expectations of $19.11 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corp. will post $3.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.275 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. Comcast Corp.’s payout ratio is presently 33.43%.
CMCSA has been the subject of several recent analyst reports. Nomura increased their price objective on Comcast Corp. from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 27th. Robert W. Baird reiterated an “outperform” rating and set a $67.00 price objective on shares of Comcast Corp. in a research note on Tuesday, June 28th. Pivotal Research raised their target price on Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 7th. Barclays PLC restated an “overweight” rating and issued a $69.00 target price (up from $65.00) on shares of Comcast Corp. in a research note on Sunday, July 10th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and issued a $70.00 target price on shares of Comcast Corp. in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $72.00.
In other news, EVP Neil Smit sold 15,121 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $65.68, for a total value of $993,147.28. Following the completion of the sale, the executive vice president now owns 66,289 shares of the company’s stock, valued at $4,353,861.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of 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 disclosure for this sale can be found here. 1.27% of the stock is owned by company insiders.
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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