Comcast Corporation (CMCSA) Position Lowered by Locust Wood Capital Advisers LLC
Locust Wood Capital Advisers LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 481,190 shares of the cable giant’s stock after selling 6,755 shares during the period. Comcast Corporation comprises 2.0% of Locust Wood Capital Advisers LLC’s holdings, making the stock its 21st largest position. Locust Wood Capital Advisers LLC’s holdings in Comcast Corporation were worth $18,728,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its position in shares of Comcast Corporation by 100.0% in the 1st 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 in the last quarter. Zions Bancorporation boosted its stake in Comcast Corporation by 16.8% in the 1st quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after purchasing an additional 410 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in Comcast Corporation in the 1st quarter worth $112,000. Founders Capital Management acquired a new position in Comcast Corporation in the 1st quarter worth $113,000. Finally, Pacific Center for Financial Services boosted its stake in Comcast Corporation by 133.0% in the 1st quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock worth $118,000 after purchasing an additional 1,788 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
In related news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $39.61, for a total transaction of $144,932.99. Following the transaction, the senior vice president now directly owns 725 shares in the company, valued at $28,717.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.28% of the stock is currently owned by insiders.
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A number of brokerages recently weighed in on CMCSA. Guggenheim raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $42.00 to $46.00 in a research note on Thursday, August 3rd. BidaskClub lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Instinet reaffirmed a “buy” rating and issued a $46.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Credit Suisse Group upped their target price on shares of Comcast Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $45.83.
Shares of Comcast Corporation (CMCSA) opened at 38.21 on Friday. The firm has a market capitalization of $180.10 billion, a P/E ratio of 19.25 and a beta of 1.01. The company has a 50-day moving average of $40.27 and a 200 day moving average of $39.17. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18. Comcast Corporation also was the target of unusually large options trading activity on Thursday. Stock traders acquired 17,896 put options on the stock. This represents an increase of 209% compared to the typical daily volume of 5,783 put options.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business 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 company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Comcast Corporation will post $2.04 earnings per share for the current year.
The company 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 dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio (DPR) is presently 31.74%.
Comcast Corporation Profile
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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