DnB Asset Management AS Has $146.63 Million Stake in Comcast Co. (CMCSA)
DnB Asset Management AS grew its position in Comcast Co. (NASDAQ:CMCSA) by 49.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,661,226 shares of the cable giant’s stock after purchasing an additional 1,219,000 shares during the period. Comcast comprises about 1.8% of DnB Asset Management AS’s portfolio, making the stock its 12th largest position. DnB Asset Management AS’s holdings in Comcast were worth $146,632,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Biegel & Waller LLC purchased a new stake in Comcast during the second quarter worth about $432,000. Penobscot Investment Management Company Inc. increased its holdings in Comcast by 3.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 98,387 shares of the cable giant’s stock worth $3,829,000 after buying an additional 2,828 shares during the last quarter. Jennison Associates LLC increased its holdings in Comcast by 1.4% during the second quarter. Jennison Associates LLC now owns 6,126,289 shares of the cable giant’s stock worth $238,435,000 after buying an additional 83,461 shares during the last quarter. iAB Financial Bank purchased a new stake in Comcast during the second quarter worth about $244,000. Finally, Quinn Opportunity Partners LLC increased its holdings in Comcast by 97.6% during the second quarter. Quinn Opportunity Partners LLC now owns 48,600 shares of the cable giant’s stock worth $1,892,000 after buying an additional 24,000 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.
CMCSA has been the subject of a number of research reports. Barclays cut their target price on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. TD Securities increased their target price on shares of Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Nomura reiterated a “neutral” rating and set a $42.00 target price (down previously from $45.00) on shares of Comcast in a research report on Thursday, January 18th. Buckingham Research increased their target price on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, BidaskClub upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.74.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Comcast had a net margin of 26.87% and a return on equity of 16.47%. The company had revenue of $21.92 billion during the quarter, compared to analyst estimates of $21.83 billion. During the same period last year, the business earned $0.89 earnings per share. Comcast’s revenue was up 4.2% compared to the same quarter last year. analysts predict that Comcast Co. will post 2.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 4th will be paid a $0.19 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, April 3rd. Comcast’s dividend payout ratio (DPR) is currently 13.21%.
In related news, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the sale, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at $2,678,726.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Brian L. Roberts sold 583,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the sale, the chairman now directly owns 1,711,798 shares in the company, valued at $66,195,228.66. The disclosure for this sale can be found here. Insiders sold 784,158 shares of company stock worth $31,070,439 over the last ninety days. 1.28% of the stock is currently owned by insiders.
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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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