Traders Buy Shares of Comcast Corporation (CMCSA) on Weakness
Traders purchased shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading hours on Monday. $192.47 million flowed into the stock on the tick-up and $110.30 million flowed out of the stock on the tick-down, for a money net flow of $82.17 million into the stock. Of all equities tracked, Comcast Corporation had the 6th highest net in-flow for the day. Comcast Corporation traded down ($0.38) for the day and closed at $37.83
CMCSA has been the topic of a number of recent research reports. Moffett Nathanson upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine lowered Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and issued a $43.00 target price on shares of Comcast Corporation in a research report on Friday, September 1st. UBS AG reiterated an “overweight” rating on shares of Comcast Corporation in a research report on Thursday, August 24th. Finally, Argus upped their target price on Comcast Corporation from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Comcast Corporation has a consensus rating of “Buy” and a consensus target price of $45.83.
The firm has a 50-day moving average of $40.22 and a 200 day moving average of $39.19. The firm has a market capitalization of $178.64 billion, a price-to-earnings ratio of 19.09 and a beta of 1.01.
Comcast Corporation (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $21.17 billion during the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. On average, analysts anticipate that Comcast Corporation will post $2.04 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a yield of 1.66%. Comcast Corporation’s dividend payout ratio is presently 31.74%.
In related news, SVP Daniel C. Murdock sold 3,659 shares of Comcast Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $39.61, for a total transaction of $144,932.99. Following the completion of the transaction, the senior vice president now directly owns 725 shares of the company’s stock, valued at $28,717.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.28% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Connecticut Wealth Management LLC raised its holdings in Comcast Corporation by 0.4% during the second quarter. Connecticut Wealth Management LLC now owns 6,602 shares of the cable giant’s stock worth $256,000 after purchasing an additional 24 shares during the last quarter. Financial Consulate Inc. raised its holdings in Comcast Corporation by 0.5% during the second quarter. Financial Consulate Inc. now owns 6,400 shares of the cable giant’s stock worth $249,000 after purchasing an additional 30 shares during the last quarter. Clarius Group LLC raised its holdings in Comcast Corporation by 0.4% during the second quarter. Clarius Group LLC now owns 8,041 shares of the cable giant’s stock worth $313,000 after purchasing an additional 32 shares during the last quarter. GM Advisory Group Inc. raised its holdings in Comcast Corporation by 0.9% during the second quarter. GM Advisory Group Inc. now owns 5,554 shares of the cable giant’s stock worth $217,000 after purchasing an additional 48 shares during the last quarter. Finally, Peoples Bank OH raised its holdings in Comcast Corporation by 0.9% during the second quarter. Peoples Bank OH now owns 6,340 shares of the cable giant’s stock worth $247,000 after purchasing an additional 59 shares during the last quarter. 82.02% of the stock is owned by hedge funds and other institutional investors.
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Comcast Corporation Company 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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