Comcast Corporation (NASDAQ:CMCSA) Stake Cut by Mandatum Life Insurance Co Ltd
Mandatum Life Insurance Co Ltd cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 58.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the cable giant’s stock after selling 8,334 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Comcast Corporation were worth $234,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after buying an additional 1,340 shares during the period. OLD Second National Bank of Aurora raised its stake in shares of Comcast Corporation by 56.5% in the first quarter. OLD Second National Bank of Aurora now owns 2,696 shares of the cable giant’s stock valued at $101,000 after buying an additional 973 shares during the period. Advantage Investment Management LLC acquired a new stake in shares of Comcast Corporation during the fourth quarter valued at $103,000. Zions Bancorporation raised its stake in shares of Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after buying an additional 410 shares during the period. Finally, Orrstown Financial Services Inc. raised its position in Comcast Corporation by 159.3% in the first quarter. Orrstown Financial Services Inc. now owns 2,860 shares of the cable giant’s stock worth $108,000 after buying an additional 1,757 shares during the period. Hedge funds and other institutional investors own 82.87% of the company’s stock.
Shares of Comcast Corporation (CMCSA) traded up 0.62% during trading on Friday, hitting $40.52. 19,547,097 shares of the stock traded hands. Comcast Corporation has a 1-year low of $30.02 and a 1-year high of $42.18. The stock has a market cap of $190.99 billion, a price-to-earnings ratio of 20.41 and a beta of 1.01. The stock has a 50 day moving average price of $39.71 and a 200-day moving average price of $38.91.
Comcast Corporation (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The firm had revenue of $21.17 billion for the quarter, compared to analysts’ expectations of $20.85 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that Comcast Corporation will post $2.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a yield of 1.55%. Comcast Corporation’s dividend payout ratio is presently 31.74%.
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A number of equities analysts have commented on CMCSA shares. Macquarie restated a “buy” rating and issued a $45.00 price target on shares of Comcast Corporation in a research report on Thursday, April 27th. Telsey Advisory Group boosted their price target on shares of Comcast Corporation from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Wunderlich upped their target price on shares of Comcast Corporation from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Deutsche Bank AG reiterated a “buy” rating and set a $47.00 target price (up from $44.00) on shares of Comcast Corporation in a research report on Saturday, April 29th. Finally, Instinet reiterated a “buy” rating and set a $43.00 target price (down from $46.00) on shares of Comcast Corporation in a research report on Saturday, April 29th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $45.69.
In other Comcast Corporation news, SVP Daniel C. Murdock sold 3,659 shares of Comcast Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.61, for a total value of $144,932.99. Following the sale, the senior vice president now owns 725 shares of the company’s stock, valued at approximately $28,717.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth J. Bacon sold 7,500 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the transaction, the director now owns 26,812 shares of the company’s stock, valued at approximately $1,085,886. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.
About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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