Somerset Trust Co lifted its position in Comcast Co. (NASDAQ:CMCSA) by 28.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,027 shares of the cable giant’s stock after buying an additional 10,652 shares during the period. Somerset Trust Co’s holdings in Comcast were worth $1,872,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CMCSA. Beck Capital Management LLC purchased a new stake in Comcast during the 4th quarter worth approximately $250,000. Guggenheim Capital LLC grew its position in Comcast by 1.3% during the 4th quarter. Guggenheim Capital LLC now owns 1,550,665 shares of the cable giant’s stock worth $69,734,000 after purchasing an additional 19,203 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Comcast by 3.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 73,725 shares of the cable giant’s stock worth $3,315,000 after purchasing an additional 2,402 shares during the last quarter. Fred Alger Management LLC grew its position in Comcast by 0.6% during the 4th quarter. Fred Alger Management LLC now owns 58,047 shares of the cable giant’s stock worth $2,610,000 after purchasing an additional 353 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its position in Comcast by 118.0% during the 4th quarter. Marshall Wace North America L.P. now owns 201,224 shares of the cable giant’s stock worth $9,049,000 after purchasing an additional 108,932 shares during the last quarter. 83.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Daniel C. Murdock sold 4,536 shares of Comcast stock in a transaction on Monday, June 15th. The shares were sold at an average price of $38.60, for a total value of $175,089.60. Following the transaction, the chief accounting officer now directly owns 10,085 shares in the company, valued at approximately $389,281. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.35% of the company’s stock.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 30th. The cable giant reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $26.61 billion for the quarter, compared to analyst estimates of $26.71 billion. Comcast had a net margin of 10.72% and a return on equity of 17.56%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. Equities research analysts predict that Comcast Co. will post 2.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.23 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.19%. Comcast’s dividend payout ratio (DPR) is 29.39%.
CMCSA has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Comcast from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Nomura Securities reiterated a “neutral” rating on shares of Comcast in a research note on Wednesday, April 22nd. ValuEngine lowered shares of Comcast from a “hold” rating to a “sell” rating in a report on Monday, June 1st. TD Securities dropped their target price on shares of Comcast from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Barclays reissued a “buy” rating and issued a $44.00 price objective on shares of Comcast in a report on Friday, April 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.83.
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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