Todays Report: The Tocqueville Asset Management L.P. sells partial stakes of Comcast Corp. (CMCSA)

The Tocqueville Asset Management L.P. sells partial stakes of Comcast Corp. (CMCSA)

Tocqueville Asset Management L.P. decreased its stake in shares of Comcast Corp. (NASDAQ:CMCSA) by 2.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 151,828 shares of the cable giant’s stock after selling 4,353 shares during the period. Tocqueville Asset Management L.P.’s holdings in Comcast Corp. were worth $9,898,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. 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 in the last quarter. Proficio Capital Partners LLC raised its stake in 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 period. Cribstone Capital Management LLC purchased a new stake in Comcast Corp. during the second quarter valued at $115,000. CWM LLC raised its stake in 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. Finally, City Holding Co. raised its stake in 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. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Comcast Corp. (NASDAQ:CMCSA) traded down 0.11% during mid-day trading on Monday, hitting $65.13. 3,389,696 shares of the stock were exchanged. The stock’s 50-day moving average is $65.88 and its 200 day moving average is $64.34. The company has a market capitalization of $157.08 billion, a PE ratio of 19.80 and a beta of 1.05. Comcast Corp. has a 52 week low of $52.34 and a 52 week high of $68.36.

Comcast Corp. (NASDAQ:CMCSA) last released its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The company had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $19.11 billion. During the same quarter in the previous year, the company earned $0.84 EPS. Comcast Corp.’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Comcast Corp. will post $3.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.10 annualized dividend and a yield of 1.68%. Comcast Corp.’s payout ratio is 33.43%.

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

In other Comcast Corp. news, Chairman Brian L. Roberts sold 304,109 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 630,596 shares in the company, valued at $42,413,886.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Neil Smit sold 29,475 shares of the company’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 transaction, the executive vice president now owns 81,410 shares in the company, valued at approximately $5,524,482.60. The disclosure for this sale can be found here. Company insiders own 1.27% of the company’s stock.

Comcast Corp. 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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