Mizuho Asset Management Co. Ltd. reduced its position in Comcast Corp. (NASDAQ:CMCSA) by 19.4% during the second quarter, Holdings Channel reports. The institutional investor owned 32,292 shares of the cable giant’s stock after selling 7,788 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Comcast Corp. were worth $2,105,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of CMCSA. Wade G W & Inc. increased its stake in Comcast Corp. by 15.5% in the first quarter. Wade G W & Inc. now owns 9,196 shares of the cable giant’s stock worth $562,000 after buying an additional 1,233 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in Comcast Corp. by 3.1% in the first quarter. Sumitomo Life Insurance Co. now owns 134,180 shares of the cable giant’s stock worth $8,196,000 after buying an additional 4,022 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in Comcast Corp. by 3.0% in the first quarter. Chesley Taft & Associates LLC now owns 22,641 shares of the cable giant’s stock worth $1,383,000 after buying an additional 656 shares in the last quarter. RDL Financial Inc. increased its stake in Comcast Corp. by 13.8% in the first quarter. RDL Financial Inc. now owns 40,177 shares of the cable giant’s stock worth $2,454,000 after buying an additional 4,884 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its stake in Comcast Corp. by 7.6% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 21,079 shares of the cable giant’s stock worth $1,287,000 after buying an additional 1,489 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.30% during midday trading on Thursday, hitting $66.48. The company’s stock had a trading volume of 2,451,086 shares. The firm has a market cap of $160.34 billion, a P/E ratio of 20.21 and a beta of 1.00. The stock’s 50 day moving average is $66.29 and its 200-day moving average is $63.90. Comcast Corp. has a 52-week low of $52.34 and a 52-week high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last announced its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share 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 firm 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 business earned $0.84 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. Comcast Corp.’s payout ratio is presently 33.43%.
A number of research firms recently commented on CMCSA. Credit Suisse Group AG reiterated an “outperform” rating and issued a $63.00 price objective on shares of Comcast Corp. in a report on Wednesday, June 1st. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $70.00 price target on shares of Comcast Corp. in a report on Monday, July 11th. RBC Capital Markets restated an “outperform” rating and issued a $72.00 price target (up from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Jefferies Group increased their price target on Comcast Corp. from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Robert W. Baird restated an “outperform” rating and issued a $67.00 price target on shares of Comcast Corp. in a report on Tuesday, June 28th. One 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $72.00.
In related news, Chairman Brian L. Roberts sold 304,109 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $67.26, for a total value 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 document filed with the SEC, which is available through the SEC website. Also, EVP Neil Smit sold 15,121 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $65.68, for a total value of $993,147.28. Following the completion of the transaction, the executive vice president now owns 66,289 shares in the company, valued at approximately $4,353,861.52. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.
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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