Patriot Wealth Management Inc. lifted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,396 shares of the cable giant’s stock after acquiring an additional 2,702 shares during the quarter. Patriot Wealth Management Inc.’s holdings in Comcast were worth $6,945,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in CMCSA. MPS Loria Financial Planners LLC purchased a new stake in shares of Comcast in the second quarter worth $107,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Comcast in the third quarter worth $104,000. Clear Perspective Advisors LLC grew its stake in shares of Comcast by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after acquiring an additional 1,362 shares during the last quarter. Willingdon Wealth Management purchased a new stake in shares of Comcast in the third quarter worth $133,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Comcast in the second quarter worth $165,000. Institutional investors own 82.52% of the company’s stock.
In other Comcast news, EVP Stephen B. Burke sold 190,756 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $42.51, for a total value of $8,109,037.56. Following the transaction, the executive vice president now owns 1,214,811 shares of the company’s stock, valued at $51,641,615.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 5,630 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $39.89, for a total value of $224,580.70. Following the completion of the transaction, the executive vice president now directly owns 71,664 shares in the company, valued at approximately $2,858,676.96. The disclosure for this sale can be found here. In the last three months, insiders sold 784,158 shares of company stock worth $31,070,439. 1.28% of the stock is owned by corporate insiders.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The company had revenue of $21.92 billion for the quarter, compared to analysts’ expectations of $21.83 billion. During the same period last year, the firm posted $0.89 earnings per share. Comcast’s revenue was up 4.2% compared to the same quarter last year. research analysts predict that Comcast Co. will post 2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 4th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, April 3rd. This is a boost from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 1.97%. Comcast’s dividend payout ratio (DPR) is 13.21%.
A number of equities research analysts have recently commented on the company. Moffett Nathanson reissued a “buy” rating on shares of Comcast in a research note on Monday, October 16th. OTR Global cut Comcast to a “positive” rating in a research note on Monday, October 30th. Guggenheim increased their target price on Comcast from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Evercore ISI reissued an “outperform” rating and issued a $48.00 target price (up from $44.00) on shares of Comcast in a research note on Tuesday, January 9th. Finally, Bank of America increased their target price on Comcast from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.74.
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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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