The Concert Wealth Management Inc. Raises Stake in Comcast Corp. (CMCSA)

The Concert Wealth Management Inc. Raises Stake in Comcast Corp. (CMCSA)

Concert Wealth Management Inc. boosted its stake in Comcast Corp. (NASDAQ:CMCSA) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 20,073 shares of the cable giant’s stock after buying an additional 921 shares during the period. Concert Wealth Management Inc.’s holdings in Comcast Corp. were worth $1,316,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CMCSA. Palisade Capital Management LLC NJ raised its position in Comcast Corp. by 0.9% in the first quarter. Palisade Capital Management LLC NJ now owns 4,031 shares of the cable giant’s stock worth $246,000 after buying an additional 37 shares during the period. Kanaly Trust Co raised its position in Comcast Corp. by 4.0% in the second quarter. Kanaly Trust Co now owns 2,369 shares of the cable giant’s stock worth $154,000 after buying an additional 91 shares during the period. Stillwater Investment Management LLC raised its position in Comcast Corp. by 0.3% in the second quarter. Stillwater Investment Management LLC now owns 34,287 shares of the cable giant’s stock worth $2,235,000 after buying an additional 92 shares during the period. WealthTrust Axiom LLC raised its position in Comcast Corp. by 0.9% in the second quarter. WealthTrust Axiom LLC now owns 11,637 shares of the cable giant’s stock worth $758,000 after buying an additional 99 shares during the period. Finally, City Holding Co. raised its position in Comcast Corp. by 6.0% in the second quarter. City Holding Co. now owns 2,169 shares of the cable giant’s stock worth $141,000 after buying an additional 122 shares during the period. Institutional investors own 82.22% of the company’s stock.

Comcast Corp. (NASDAQ:CMCSA) traded up 0.8725% during mid-day trading on Wednesday, hitting $65.5268. 3,049,455 shares of the company’s stock were exchanged. Comcast Corp. has a 52 week low of $52.34 and a 52 week high of $68.36. The stock has a market capitalization of $158.04 billion, a P/E ratio of 19.9230 and a beta of 1.05. The firm has a 50 day moving average of $65.92 and a 200 day moving average of $64.29.

Comcast Corp. (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Equities analysts forecast that Comcast Corp. will post $3.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s dividend payout ratio (DPR) is presently 33.43%.

Several analysts have recently commented on the stock. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $70.00 price target on shares of Comcast Corp. in a research report on Monday, July 11th. Telsey Advisory Group lifted their price target on shares of Comcast Corp. from $75.00 to $76.50 and gave the company an “outperform” rating in a research report on Friday, August 19th. Barclays PLC reaffirmed an “overweight” rating and set a $69.00 price target (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Pivotal Research lifted their price target on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 7th. Finally, Argus lifted their price target on shares of Comcast Corp. from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $72.00.

In other news, EVP Arthur R. Block sold 1,023 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $65.75, for a total value of $67,262.25. Following the sale, the executive vice president now owns 47,539 shares of the company’s stock, valued at approximately $3,125,689.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Brian L. Roberts sold 304,109 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the sale, the chairman now directly owns 630,596 shares in the company, valued at approximately $42,413,886.96. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.

About Comcast Corp.

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.

Related posts

Leave a Comment