Investors Buy Shares of Comcast Corporation (CMCSA) on Weakness

Traders purchased shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading on Tuesday. $83.79 million flowed into the stock on the tick-up and $60.30 million flowed out of the stock on the tick-down, for a money net flow of $23.49 million into the stock. Of all stocks tracked, Comcast Corporation had the 22nd highest net in-flow for the day. Comcast Corporation traded down ($0.11) for the day and closed at $37.69

CMCSA has been the subject of a number of recent research reports. Moffett Nathanson downgraded Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Tuesday, June 20th. ValuEngine downgraded Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $43.00 target price on shares of Comcast Corporation in a research note on Friday, September 1st. UBS AG reaffirmed an “overweight” rating on shares of Comcast Corporation in a research note on Thursday, August 24th. Finally, Guggenheim raised Comcast Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $42.00 to $46.00 in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $45.83.

The company’s 50-day moving average price is $38.86 and its 200 day moving average price is $39.26. The stock has a market capitalization of $177.65 billion, a P/E ratio of 18.99 and a beta of 0.98.

Comcast Corporation (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, equities analysts anticipate that Comcast Corporation will post $2.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.1575 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.67%. Comcast Corporation’s dividend payout ratio (DPR) is currently 31.74%.

In other news, EVP Arthur R. Block sold 4,091 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at $2,626,816.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now owns 24,580 shares of the company’s stock, valued at approximately $916,096.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,982 shares of company stock valued at $385,050. Insiders own 1.28% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. MPS Loria Financial Planners LLC purchased a new position in Comcast Corporation in the second quarter valued at about $107,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after purchasing an additional 1,340 shares during the last quarter. Clear Perspective Advisors LLC boosted its holdings in Comcast Corporation by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after purchasing an additional 1,362 shares during the last quarter. First Bank & Trust boosted its holdings in Comcast Corporation by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock valued at $111,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Zions Bancorporation boosted its holdings in Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after purchasing an additional 410 shares during the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.

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About Comcast Corporation

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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