Franklin Resources Inc. lifted its holdings in Comcast Co. (NASDAQ:CMCSA) by 50.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,713,763 shares of the cable giant’s stock after buying an additional 11,685,945 shares during the quarter. Comcast makes up about 0.8% of Franklin Resources Inc.’s holdings, making the stock its 21st biggest holding. Franklin Resources Inc. owned 0.76% of Comcast worth $1,193,475,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Efficient Wealth Management LLC purchased a new stake in shares of Comcast in the 1st quarter worth about $25,000. Islay Capital Management LLC purchased a new stake in shares of Comcast in the 4th quarter worth about $28,000. Capital Wealth Alliance LLC bought a new position in Comcast in the 4th quarter worth about $30,000. TFG Advisers LLC bought a new position in Comcast in the 4th quarter worth about $32,000. Finally, Evolution Wealth Advisors LLC boosted its stake in Comcast by 64.5% in the 4th quarter. Evolution Wealth Advisors LLC now owns 755 shares of the cable giant’s stock worth $34,000 after purchasing an additional 296 shares in the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ CMCSA traded up $0.44 during midday trading on Tuesday, hitting $40.62. 9,398,513 shares of the company’s stock traded hands, compared to its average volume of 20,481,228. The firm has a fifty day moving average of $37.49 and a 200 day moving average of $41.30. The stock has a market capitalization of $180.30 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.96. Comcast Co. has a 1 year low of $31.70 and a 1 year high of $47.74. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.87 and a current ratio of 0.87.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, June 30th. Comcast’s dividend payout ratio is 29.39%.
In related news, EVP David N. Watson sold 202,782 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.05, for a total value of $7,513,073.10. Following the completion of the sale, the executive vice president now directly owns 893,424 shares of the company’s stock, valued at approximately $33,101,359.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel C. Murdock sold 919 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $37.53, for a total transaction of $34,490.07. Following the sale, the chief accounting officer now directly owns 2,654 shares of the company’s stock, valued at $99,604.62. The disclosure for this sale can be found here. Insiders sold a total of 204,739 shares of company stock valued at $7,585,502 over the last three months. 1.14% of the stock is currently owned by insiders.
A number of equities analysts recently issued reports on CMCSA shares. Oppenheimer reiterated a “hold” rating on shares of Comcast in a research note on Thursday, April 30th. Nomura dropped their price target on shares of Comcast from $44.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Wells Fargo & Co upped their price target on shares of Comcast from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Morgan Stanley dropped their price target on shares of Comcast from $53.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Nomura Securities reiterated a “neutral” rating on shares of Comcast in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. Comcast has a consensus rating of “Buy” and a consensus price target of $47.81.
Comcast Company Profile
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, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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