Glassman Wealth Services Grows Holdings in Comcast Co. (CMCSA)

Glassman Wealth Services raised its stake in Comcast Co. (NASDAQ:CMCSA) by 798.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,841 shares of the cable giant’s stock after purchasing an additional 14,077 shares during the quarter. Glassman Wealth Services’ holdings in Comcast were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Eqis Capital Management Inc. purchased a new stake in Comcast in the second quarter worth about $745,000. State of New Jersey Common Pension Fund D increased its position in Comcast by 3.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 4,550,000 shares of the cable giant’s stock worth $149,286,000 after buying an additional 150,000 shares in the last quarter. Park Avenue Securities LLC increased its position in Comcast by 7.6% in the second quarter. Park Avenue Securities LLC now owns 28,370 shares of the cable giant’s stock worth $941,000 after buying an additional 2,002 shares in the last quarter. Aperio Group LLC increased its position in Comcast by 1.5% in the second quarter. Aperio Group LLC now owns 2,830,895 shares of the cable giant’s stock worth $92,882,000 after buying an additional 42,823 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Comcast by 4.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 498,003 shares of the cable giant’s stock worth $16,340,000 after buying an additional 20,742 shares in the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.

Several analysts recently issued reports on the company. Pivotal Research cut their target price on Comcast from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, October 2nd. TD Securities cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Citigroup assumed coverage on Comcast in a research report on Wednesday, October 24th. They set a “buy” rating and a $48.00 target price for the company. Finally, MED assumed coverage on Comcast in a research report on Wednesday, October 24th. They set a “buy” rating and a $43.00 target price for the company. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.61.

In other news, EVP Arthur R. Block sold 1,082 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the sale, the executive vice president now directly owns 62,476 shares of the company’s stock, valued at approximately $2,245,387.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 6,448 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the sale, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at $2,648,369.12. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.

Shares of Comcast stock opened at $39.01 on Friday. Comcast Co. has a 12 month low of $30.43 and a 12 month high of $44.00. The company has a market cap of $181.18 billion, a P/E ratio of 16.19, a PEG ratio of 1.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The company had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. Research analysts predict that Comcast Co. will post 2.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, December 31st. Comcast’s payout ratio is presently 36.89%.

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Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

Further Reading: Insider Trading

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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