Gofen & Glossberg LLC IL Reduces Position in Comcast Corp. (CMCSA)
Gofen & Glossberg LLC IL lowered its position in shares of Comcast Corp. (NASDAQ:CMCSA) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 665,265 shares of the cable giant’s stock after selling 9,439 shares during the period. Comcast Corp. accounts for 1.8% of Gofen & Glossberg LLC IL’s portfolio, making the stock its 11th largest position. Gofen & Glossberg LLC IL’s holdings in Comcast Corp. were worth $44,134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Bank of Montreal Can purchased a new stake in Comcast Corp. during the second quarter worth $446,948,000. Janus Capital Management LLC boosted its stake in Comcast Corp. by 26.5% in the second quarter. Janus Capital Management LLC now owns 22,476,251 shares of the cable giant’s stock worth $1,465,205,000 after buying an additional 4,708,325 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Comcast Corp. during the second quarter worth $275,565,000. Suvretta Capital Management LLC purchased a new stake in Comcast Corp. during the second quarter worth $103,940,000. Finally, Egerton Capital UK LLP boosted its stake in Comcast Corp. by 12.6% in the second quarter. Egerton Capital UK LLP now owns 11,878,532 shares of the cable giant’s stock worth $774,362,000 after buying an additional 1,324,997 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded up 0.29% during midday trading on Friday, reaching $69.16. 3,481,776 shares of the company traded hands. Comcast Corp. has a 1-year low of $52.34 and a 1-year high of $69.92. The stock’s 50-day moving average is $64.84 and its 200-day moving average is $65.06. The stock has a market capitalization of $165.49 billion, a P/E ratio of 20.29 and a beta of 1.08.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings data on Wednesday, October 26th. The cable giant reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.01. The business earned $21.32 billion during the quarter, compared to the consensus estimate of $21.11 billion. Comcast Corp. had a return on equity of 15.22% and a net margin of 10.65%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Equities analysts predict that Comcast Corp. will post $3.50 EPS for the current fiscal year.
A number of analysts recently commented on CMCSA shares. Macquarie upgraded shares of Comcast Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $69.00 to $77.00 in a research note on Monday, October 24th. Argus reiterated a “buy” rating and issued a $81.00 target price on shares of Comcast Corp. in a research note on Tuesday, September 27th. Jefferies Group reiterated a “buy” rating on shares of Comcast Corp. in a research note on Friday, September 30th. Barclays PLC reiterated an “overweight” rating and issued a $70.00 target price on shares of Comcast Corp. in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $75.00 target price (up from $69.00) on shares of Comcast Corp. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.15.
In related news, EVP Arthur R. Block sold 1,023 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $65.75, for a total transaction 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 $3,125,689.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David L. Cohen sold 20,100 shares of the stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $65.01, for a total value of $1,306,701.00. Following the sale, the executive vice president now directly owns 257,120 shares of the company’s stock, valued at $16,715,371.20. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.
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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