Principal Financial Group Inc. lessened its holdings in Comcast Corporation (NASDAQ:CMCSA) by 4.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,684,064 shares of the cable giant’s stock after selling 468,768 shares during the period. Principal Financial Group Inc. owned 0.21% of Comcast worth $372,643,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Alleghany Corp DE raised its position in Comcast by 15.4% during the third quarter. Alleghany Corp DE now owns 3,935,808 shares of the cable giant’s stock valued at $151,451,000 after purchasing an additional 525,000 shares in the last quarter. Fiduciary Trust Co. increased its holdings in shares of Comcast by 8.1% in the third quarter. Fiduciary Trust Co. now owns 356,731 shares of the cable giant’s stock worth $13,727,000 after buying an additional 26,643 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Comcast by 1.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 1,379,088 shares of the cable giant’s stock worth $53,067,000 after buying an additional 17,226 shares during the period. Jacobi Capital Management LLC increased its holdings in shares of Comcast by 37.9% in the third quarter. Jacobi Capital Management LLC now owns 8,034 shares of the cable giant’s stock worth $304,000 after buying an additional 2,207 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in shares of Comcast by 1.0% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 452,000 shares of the cable giant’s stock worth $17,393,000 after buying an additional 4,472 shares during the period. Institutional investors own 82.13% of the company’s stock.
Several research firms have recently commented on CMCSA. Moffett Nathanson reiterated a “buy” rating on shares of Comcast in a report on Monday, October 16th. OTR Global cut Comcast to a “positive” rating in a research note on Monday, October 30th. Buckingham Research initiated coverage on Comcast in a research note on Monday, November 20th. They issued a “buy” rating and a $48.00 target price on the stock. Wells Fargo & Co reissued a “buy” rating and issued a $49.00 target price on shares of Comcast in a research note on Monday, October 23rd. Finally, Nomura cut their target price on Comcast from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $45.72.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The company had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.05 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. research analysts predict that Comcast Corporation will post 2.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. Comcast’s payout ratio is currently 29.72%.
In other Comcast news, EVP Arthur R. Block sold 3,937 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares in the company, valued at approximately $2,678,726.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the sale, the chairman now owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 593,402 shares of company stock valued at $22,961,401. 1.28% of the stock is owned by company insiders.
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Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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