Redwood Investments LLC Acquires 16,144 Shares of Comcast Corp. (CMCSA)
Redwood Investments LLC raised its stake in Comcast Corp. (NASDAQ:CMCSA) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 411,510 shares of the cable giant’s stock after buying an additional 16,144 shares during the period. Comcast Corp. comprises about 2.5% of Redwood Investments LLC’s investment portfolio, making the stock its 5th largest position. Redwood Investments LLC’s holdings in Comcast Corp. were worth $26,826,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. boosted 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 worth $107,000 after buying an additional 326 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in Comcast Corp. during the second quarter worth $115,000. CWM LLC raised its stake in Comcast Corp. by 25.1% in the second quarter. CWM LLC now owns 2,051 shares of the cable giant’s stock worth $134,000 after buying an additional 411 shares during the period. City Holding Co. raised its stake in Comcast Corp. by 6.0% in the second quarter. City Holding Co. now owns 2,169 shares of the cable giant’s stock worth $141,000 after buying an additional 122 shares during the period. Finally, Kanaly Trust Co raised its stake in Comcast Corp. by 4.0% in the second quarter. Kanaly Trust Co now owns 2,369 shares of the cable giant’s stock worth $154,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during midday trading on Friday, reaching $65.36. The company’s stock had a trading volume of 7,471,618 shares. The stock has a market cap of $157.64 billion, a price-to-earnings ratio of 19.87 and a beta of 1.05. The stock’s 50 day moving average price is $66.01 and its 200-day moving average price is $64.15. Comcast Corp. has a one year low of $52.34 and a one year high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly 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. The business had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $19.11 billion. Comcast Corp. had a return on equity of 15.04% and a net margin of 10.70%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, analysts forecast that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s payout ratio is presently 33.43%.
Several brokerages have recently issued reports on CMCSA. Wells Fargo & Co. reissued a “buy” rating on shares of Comcast Corp. in a research report on Monday, July 18th. Pivotal Research restated a “buy” rating on shares of Comcast Corp. in a research note on Thursday, July 28th. Barclays PLC restated an “overweight” rating and issued a $70.00 price target on shares of Comcast Corp. in a research note on Thursday, September 22nd. Jefferies Group upped their price target on Comcast Corp. from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Nomura restated a “buy” rating on shares of Comcast Corp. in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $72.00.
In other news, EVP Neil Smit sold 15,121 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $65.68, for a total transaction of $993,147.28. Following the sale, the executive vice president now directly owns 66,289 shares of the company’s stock, valued at $4,353,861.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brian L. Roberts sold 304,109 shares of the business’s stock in a transaction on 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 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.
Comcast Corp. Company Profile
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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