Gotham Asset Management LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 78.4% during the third quarter, Holdings Channel reports. The fund owned 314,501 shares of the cable giant’s stock after buying an additional 138,165 shares during the period. Gotham Asset Management LLC’s holdings in Comcast Corporation were worth $20,864,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bbva Compass Bancshares Inc. increased its stake in Comcast Corporation by 45.6% in the second quarter. Bbva Compass Bancshares Inc. now owns 100,646 shares of the cable giant’s stock valued at $6,562,000 after buying an additional 31,527 shares during the last quarter. Alley Co LLC increased its stake in Comcast Corporation by 3.3% in the second quarter. Alley Co LLC now owns 66,171 shares of the cable giant’s stock valued at $4,314,000 after buying an additional 2,137 shares during the last quarter. Signaturefd LLC increased its stake in Comcast Corporation by 7.4% in the second quarter. Signaturefd LLC now owns 3,928 shares of the cable giant’s stock valued at $256,000 after buying an additional 269 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Comcast Corporation during the second quarter valued at $228,000. Finally, Proficio Capital Partners LLC increased its stake in Comcast Corporation by 80.1% in the second quarter. Proficio Capital Partners LLC now owns 1,704 shares of the cable giant’s stock valued at $116,000 after buying an additional 758 shares during the last quarter. 82.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Comcast Corporation (NASDAQ:CMCSA) traded up 0.16% on Friday, hitting $75.15. The company’s stock had a trading volume of 6,342,052 shares. The stock’s 50 day moving average is $72.78 and its 200-day moving average is $67.99. The company has a market cap of $178.54 billion, a price-to-earnings ratio of 21.05 and a beta of 1.07. Comcast Corporation has a 52 week low of $56.59 and a 52 week high of $76.87.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 26th. The cable giant reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.02. Comcast Corporation had a return on equity of 15.30% and a net margin of 10.81%. The firm had revenue of $21 billion for the quarter, compared to analysts’ expectations of $20.67 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Comcast Corporation will post $3.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be issued a dividend of $0.1575 per share. This is a boost from Comcast Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, April 3rd. This represents a $0.63 annualized dividend and a yield of 0.84%. Comcast Corporation’s payout ratio is presently 30.81%.
CMCSA has been the subject of several research reports. Macquarie raised Comcast Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $69.00 to $77.00 in a report on Monday, October 24th. Instinet boosted their target price on Comcast Corporation from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective (up from $76.00) on shares of Comcast Corporation in a research note on Thursday, January 5th. Deutsche Bank AG raised Comcast Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $88.00 in a research note on Friday, January 13th. Finally, HSBC Holdings plc initiated coverage on Comcast Corporation in a research note on Thursday, January 19th. They set a “buy” rating and a $83.00 price objective for the company. Twenty-two equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $79.03.
In other Comcast Corporation news, EVP Neil Smit sold 15,121 shares of Comcast Corporation stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $69.57, for a total value of $1,051,967.97. Following the transaction, the executive vice president now owns 62,208 shares in the company, valued at $4,327,810.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Arthur R. Block sold 6,752 shares of Comcast Corporation stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $69.88, for a total transaction of $471,829.76. Following the completion of the transaction, the executive vice president now owns 69,889 shares in the company, valued at approximately $4,883,843.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 229,839 shares of company stock worth $17,165,153. 1.27% of the stock is owned by corporate insiders.
Comcast Corporation Company Profile
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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