Trade Report: The Premier Fund Managers Ltd Increases Stake in Comcast Corp. (CMCSA)

The Premier Fund Managers Ltd Increases Stake in Comcast Corp. (CMCSA)

Premier Fund Managers Ltd boosted its position in Comcast Corp. (NASDAQ:CMCSA) by 19.3% during the second quarter, Holdings Channel reports. The firm owned 54,900 shares of the cable giant’s stock after buying an additional 8,900 shares during the period. Comcast Corp. makes up 3.4% of Premier Fund Managers Ltd’s holdings, making the stock its 4th largest position. Premier Fund Managers Ltd’s holdings in Comcast Corp. were worth $3,511,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Oakworth Capital Inc. boosted its stake in 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 about $115,000. CWM LLC raised its position in shares of Comcast Corp. by 25.1% in the second quarter. CWM LLC now owns 2,051 shares of the cable giant’s stock valued at $134,000 after buying an additional 411 shares during the period. City Holding Co. raised its position in shares of Comcast Corp. by 6.0% in the second quarter. City Holding Co. now owns 2,169 shares of the cable giant’s stock valued at $141,000 after buying an additional 122 shares during the period. Finally, Kanaly Trust Co raised its position in shares of Comcast Corp. by 4.0% in the second quarter. Kanaly Trust Co now owns 2,369 shares of the cable giant’s stock valued at $154,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during midday trading on Friday, hitting $65.36. 7,471,618 shares of the stock were exchanged. Comcast Corp. has a 1-year low of $52.34 and a 1-year high of $68.36. The stock’s 50-day moving average price is $65.97 and its 200-day moving average price is $64.18. The firm has a market capitalization of $157.64 billion, a price-to-earnings ratio of 19.87 and a beta of 1.05.

Comcast Corp. (NASDAQ:CMCSA) last issued its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $18.74 billion for the quarter, compared to analysts’ expectations of $19.11 billion. During the same period last year, the business earned $0.84 EPS. Comcast Corp.’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Comcast Corp. will post $3.52 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s payout ratio is currently 33.43%.

Several research analysts have recently issued reports on the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $72.00 target price (up previously from $70.00) on shares of Comcast Corp. in a research note on Thursday, July 28th. Pivotal Research reaffirmed a “buy” rating on shares of Comcast Corp. in a research note on Thursday, July 28th. Pacific Crest raised their target price on shares of Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Jefferies Group raised their target price on shares of Comcast Corp. from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Royal Bank Of Canada raised their target price on shares of Comcast Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Comcast Corp. currently has an average rating of “Buy” and a consensus price target of $72.00.

In other news, EVP Neil Smit sold 29,475 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $67.86, for a total transaction of $2,000,173.50. Following the completion of the sale, the executive vice president now directly owns 81,410 shares of the company’s stock, valued at approximately $5,524,482.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Brian L. Roberts sold 304,109 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $67.26, for a total value of $20,454,371.34. Following the sale, the chairman now directly owns 630,596 shares of the company’s stock, valued at $42,413,886.96. The disclosure for this sale can be found here. 1.27% of the stock is owned by corporate 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.

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