NewEdge Wealth LLC raised its holdings in Comcast Co. (NASDAQ:CMCSA) by 108.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,229 shares of the cable giant’s stock after acquiring an additional 95,478 shares during the quarter. Comcast accounts for about 1.0% of NewEdge Wealth LLC’s holdings, making the stock its 21st biggest position. NewEdge Wealth LLC’s holdings in Comcast were worth $9,915,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Duality Advisers LP purchased a new position in shares of Comcast in the first quarter valued at $3,219,000. Mutual of America Capital Management LLC increased its position in shares of Comcast by 1.8% in the first quarter. Mutual of America Capital Management LLC now owns 643,559 shares of the cable giant’s stock valued at $34,823,000 after buying an additional 11,148 shares in the last quarter. Cornerstone Advisors LLC purchased a new position in shares of Comcast in the first quarter valued at $16,449,000. Neuberger Berman Group LLC increased its position in shares of Comcast by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 8,410,485 shares of the cable giant’s stock valued at $454,365,000 after buying an additional 141,121 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of Comcast by 12.6% in the first quarter. Mutual Advisors LLC now owns 31,106 shares of the cable giant’s stock valued at $1,683,000 after buying an additional 3,484 shares in the last quarter. 82.98% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on CMCSA shares. Pivotal Research raised their price target on Comcast from $65.00 to $70.00 in a research report on Friday, April 30th. Oppenheimer upgraded Comcast from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Comcast from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Raymond James raised their price target on Comcast from $61.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. Finally, Evercore ISI raised their price target on Comcast from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $61.86.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 29th. The cable giant reported $0.76 EPS for the quarter, topping the consensus estimate of $0.59 by $0.17. Comcast had a return on equity of 13.75% and a net margin of 11.25%. The firm had revenue of $27.21 billion for the quarter, compared to analyst estimates of $26.83 billion. During the same period in the previous year, the company posted $0.77 EPS. Comcast’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Comcast Co. will post 2.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Wednesday, July 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 6th. This represents a $1.00 annualized dividend and a yield of 1.74%. Comcast’s dividend payout ratio is presently 38.31%.
In other news, CEO Brian L. Roberts sold 709,673 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $55.20, for a total value of $39,173,949.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth J. Bacon sold 3,966 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $58.83, for a total value of $233,319.78. Following the completion of the sale, the director now owns 33,611 shares of the company’s stock, valued at $1,977,335.13. The disclosure for this sale can be found here. Insiders have sold a total of 717,670 shares of company stock worth $39,636,593 over the last 90 days. 1.04% of the stock is owned by company insiders.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.
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