TimesSquare Capital Management LLC purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 198,685 shares of the cable giant’s stock, valued at approximately $7,645,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Clear Perspective Advisors LLC raised its position in shares of Comcast by 100.1% during the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after buying an additional 1,362 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Comcast during the second quarter valued at about $107,000. First Bank & Trust raised its position in shares of Comcast by 84.9% during the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock valued at $111,000 after buying an additional 1,302 shares during the last quarter. Willingdon Wealth Management acquired a new position in shares of Comcast during the third quarter valued at about $133,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Comcast during the second quarter valued at about $165,000. Institutional investors own 82.20% of the company’s stock.
In other news, EVP Arthur R. Block sold 3,937 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at $2,678,726.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Brian L. Roberts sold 583,835 shares of the stock in a transaction that occurred 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 directly owns 1,711,798 shares in the company, valued at $66,195,228.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 593,402 shares of company stock valued at $22,961,401. Company insiders own 1.28% of the company’s stock.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. equities research analysts forecast that Comcast Co. will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, January 2nd. Comcast’s payout ratio is 30.36%.
Several research firms recently issued reports on CMCSA. Nomura reissued a “neutral” rating and issued a $42.00 price target (down previously from $45.00) on shares of Comcast in a research report on Thursday. Scotiabank set a $52.00 price target on shares of Comcast and gave the stock a “buy” rating in a research report on Friday. Moffett Nathanson reissued a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Comcast in a research report on Thursday. TD Securities lowered shares of Comcast from an “action list buy” rating to a “buy” rating and increased their price target for the stock from $42.60 to $51.00 in a research report on Friday, January 12th. Finally, Instinet lowered shares of Comcast from a “buy” rating to a “neutral” rating and increased their price target for the stock from $42.00 to $45.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.83.
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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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