Smith Salley & Associates raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 9.6% during the 1st quarter, Holdings Channel reports. The firm owned 8,228 shares of the cable giant’s stock after acquiring an additional 723 shares during the quarter. Smith Salley & Associates’ holdings in Comcast were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acima Private Wealth LLC bought a new position in Comcast in the fourth quarter worth $25,000. Clean Yield Group bought a new position in Comcast in the first quarter worth $25,000. Mackey Komara & Dankovich LLC bought a new position in Comcast in the first quarter worth $27,000. Litman Gregory Asset Management LLC bought a new position in Comcast in the fourth quarter worth $30,000. Finally, Nalls Sherbakoff Group LLC bought a new position in Comcast in the fourth quarter worth $46,000. 82.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on CMCSA. Guggenheim upgraded Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective for the company in a report on Thursday, May 30th. Morgan Stanley increased their price objective on Comcast from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. BidaskClub downgraded Comcast from a “buy” rating to a “hold” rating in a report on Tuesday. Nomura increased their price objective on Comcast from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada downgraded Comcast from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $45.00 to $42.00 in a report on Friday, March 29th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $44.72.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Comcast had a return on equity of 17.04% and a net margin of 12.34%. The company had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.27 billion. During the same period last year, the company earned $0.66 EPS. Comcast’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, sell-side analysts expect that Comcast Co. will post 3.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.84 annualized dividend and a yield of 2.03%. Comcast’s payout ratio is 32.94%.
In other Comcast news, EVP Stephen B. Burke sold 457,633 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $43.35, for a total value of $19,838,390.55. Following the transaction, the executive vice president now directly owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur R. Block sold 13,765 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $39.43, for a total value of $542,753.95. Following the completion of the transaction, the executive vice president now directly owns 68,878 shares in the company, valued at $2,715,859.54. The disclosure for this sale can be found here. Insiders sold a total of 849,537 shares of company stock valued at $35,489,480 over the last quarter. 1.35% of the stock is owned by corporate insiders.
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.
Read More: What is the NASDAQ Stock Market?
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).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.