Exchange Capital Management Inc. Sells 8,549 Shares of Comcast Co. (CMCSA)
Exchange Capital Management Inc. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 100,311 shares of the cable giant’s stock after selling 8,549 shares during the quarter. Comcast makes up about 1.4% of Exchange Capital Management Inc.’s holdings, making the stock its 20th largest holding. Exchange Capital Management Inc.’s holdings in Comcast were worth $4,017,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of 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 purchasing an additional 26,522,368 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 8,677,771 shares in the last quarter. Capital International Investors boosted its position in shares of 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 purchasing an additional 6,467,802 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of 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 purchasing an additional 5,108,525 shares in the last quarter. Finally, Rockefeller Financial Services Inc. boosted its position in shares of 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 purchasing an additional 5,038,817 shares in the last quarter. 83.59% of the stock is currently owned by institutional investors.
In related news, Chairman Brian L. Roberts sold 583,835 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $66,195,228.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David N. Watson sold 131,447 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $36.79, for a total transaction of $4,835,935.13. The disclosure for this sale can be found here. Insiders sold a total of 915,605 shares of company stock valued at $35,906,374 in the last three months. 1.28% of the stock is currently owned by corporate insiders.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Wednesday, January 24th. The cable giant reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Comcast had a net margin of 26.87% and a return on equity of 16.47%. The firm had revenue of $21.92 billion during the quarter, compared to the consensus estimate of $21.83 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts expect that Comcast Co. will post 2.52 earnings per share for the current fiscal year.
The company 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. The ex-dividend date is Tuesday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.09%. Comcast’s payout ratio is presently 13.21%.
Several equities research analysts have commented on CMCSA shares. Scotiabank set a $52.00 target price on shares of Comcast and gave the stock a “buy” rating in a research report on Friday, January 19th. Evercore ISI restated an “outperform” rating and set a $48.00 target price (up from $44.00) on shares of Comcast in a research report on Tuesday, January 9th. Buckingham Research boosted 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. Pivotal Research reiterated a “buy” rating and issued a $113.00 price objective on shares of Comcast in a research report on Wednesday, February 28th. Finally, TD Securities lowered shares of Comcast from an “action list buy” rating to a “buy” rating and boosted their price objective for the stock from $42.60 to $51.00 in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.39.
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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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