Investors Buy Comcast (CMCSA) on Weakness
Investors purchased shares of Comcast Co. (NASDAQ:CMCSA) on weakness during trading on Thursday. $242.79 million flowed into the stock on the tick-up and $133.06 million flowed out of the stock on the tick-down, for a money net flow of $109.73 million into the stock. Of all stocks tracked, Comcast had the 11th highest net in-flow for the day. Comcast traded down ($1.96) for the day and closed at $38.19
Several equities analysts have recently weighed in on CMCSA shares. Barclays decreased their price target on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. TD Securities raised their price target on shares of Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Nomura reissued a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Comcast in a research note on Thursday, January 18th. Buckingham Research lifted their target price on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, BidaskClub raised shares of Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $47.74.
The stock has a market capitalization of $178,490.00, a P/E ratio of 7.99, a PEG ratio of 1.52 and a beta of 1.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.86.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Comcast’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 3rd. Comcast’s payout ratio is 13.18%.
In related news, Chairman Brian L. Roberts sold 583,835 shares of Comcast stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total value of $22,576,899.45. Following the completion of the transaction, the chairman now owns 1,711,798 shares in the company, valued at $66,195,228.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen B. Burke sold 190,756 shares of Comcast stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $42.51, for a total transaction of $8,109,037.56. Following the completion of the transaction, the executive vice president now owns 1,214,811 shares of the company’s stock, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. Insiders sold a total of 784,158 shares of company stock worth $31,070,439 over the last three months. Insiders own 1.28% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in Comcast by 1,581.1% during the 2nd quarter. Janus Henderson Group PLC now owns 28,199,798 shares of the cable giant’s stock worth $1,097,544,000 after acquiring an additional 26,522,368 shares in the last quarter. Vanguard Group Inc. grew its holdings in Comcast by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock worth $12,331,646,000 after acquiring an additional 8,677,771 shares in the last quarter. Capital International Investors grew its holdings in Comcast by 23.3% during the 3rd quarter. Capital International Investors now owns 34,256,110 shares of the cable giant’s stock worth $1,318,175,000 after acquiring an additional 6,467,802 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Comcast by 38.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,417,341 shares of the cable giant’s stock worth $716,803,000 after acquiring an additional 5,108,525 shares in the last quarter. Finally, Rockefeller Financial Services Inc. grew its holdings in Comcast by 4,476.3% during the 4th quarter. Rockefeller Financial Services Inc. now owns 5,151,384 shares of the cable giant’s stock worth $206,314,000 after acquiring an additional 5,038,817 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
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Comcast 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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