Trading Report: The Investors Sell Comcast Corp. (CMCSA) on Strength Following Insider Selling

The Investors Sell Comcast Corp. (CMCSA) on Strength Following Insider Selling

Traders sold shares of Comcast Corp. (NASDAQ:CMCSA) on strength during trading hours on Friday following insider selling activity. $67.06 million flowed into the stock on the tick-up and $123.98 million flowed out of the stock on the tick-down, for a money net flow of $56.92 million out of the stock. Of all equities tracked, Comcast Corp. had the 0th highest net out-flow for the day. Comcast Corp. traded up $0.08 for the day and closed at $65.20Specifically, EVP David L. Cohen sold 19,444 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $65.50, for a total value of $1,273,582.00. Following the completion of the transaction, the executive vice president now owns 257,120 shares in the company, valued at $16,841,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Brian L. Roberts sold 304,109 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the transaction, the chairman now owns 630,596 shares of the company’s stock, valued at approximately $42,413,886.96. The disclosure for this sale can be found here. Corporate insiders own 1.27% of the company’s stock.

A number of analysts have recently commented on CMCSA shares. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $70.00 price objective on shares of Comcast Corp. in a research report on Monday, July 11th. Telsey Advisory Group boosted their price objective on shares of Comcast Corp. from $75.00 to $76.50 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Barclays PLC reissued an “overweight” rating and issued a $69.00 price objective (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Pivotal Research boosted their price objective on shares of Comcast Corp. from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Finally, Argus boosted their price objective on shares of Comcast Corp. from $72.00 to $81.00 and gave the stock 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 given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.00.

The company has a 50-day moving average price of $65.88 and a 200-day moving average price of $64.34. The company has a market capitalization of $157.25 billion, a PE ratio of 19.82 and a beta of 1.05.

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

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. D Orazio & Associates Inc. raised its position in shares of Comcast Corp. by 5.3% in the second quarter. D Orazio & Associates Inc. now owns 1,563 shares of the cable giant’s stock valued at $102,000 after buying an additional 79 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Comcast Corp. by 64.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,605 shares of the cable giant’s stock valued at $105,000 after buying an additional 630 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock valued at $107,000 after buying an additional 326 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Comcast Corp. during the second quarter valued at approximately $115,000. Finally, Proficio Capital Partners LLC raised its position in shares of Comcast Corp. 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. 82.22% of the stock is owned by institutional investors.

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