Smith Salley & Associates Acquires 723 Shares of Comcast Co. (NASDAQ:CMCSA)

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.



NASDAQ CMCSA opened at $41.45 on Thursday. Comcast Co. has a one year low of $30.99 and a one year high of $43.96. The stock has a market capitalization of $187.08 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.38.

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.

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About Comcast

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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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