Park National Corp OH reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,183 shares of the cable giant’s stock after selling 4,081 shares during the period. Park National Corp OH’s holdings in Comcast were worth $2,037,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CMCSA. Cox Capital Mgt LLC boosted its position in shares of Comcast by 4.2% during the third quarter. Cox Capital Mgt LLC now owns 35,802 shares of the cable giant’s stock worth $1,614,000 after buying an additional 1,455 shares during the period. Private Trust Co. NA boosted its position in shares of Comcast by 5.1% during the third quarter. Private Trust Co. NA now owns 50,783 shares of the cable giant’s stock worth $2,289,000 after buying an additional 2,476 shares during the period. Rothschild & Co Wealth Management UK Ltd acquired a new position in shares of Comcast during the second quarter worth approximately $305,744,000. Princeton Global Asset Management LLC boosted its position in shares of Comcast by 4.9% during the second quarter. Princeton Global Asset Management LLC now owns 20,926 shares of the cable giant’s stock worth $885,000 after buying an additional 977 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Comcast by 2.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,094,349 shares of the cable giant’s stock worth $46,269,000 after buying an additional 22,271 shares during the period. Institutional investors own 82.75% of the company’s stock.
Several brokerages recently commented on CMCSA. ValuEngine cut Comcast from a “sell” rating to a “strong sell” rating in a report on Wednesday. Oppenheimer raised Comcast from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Thursday, September 5th. Pivotal Research boosted their target price on Comcast from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Macquarie began coverage on Comcast in a report on Wednesday, June 19th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Co began coverage on Comcast in a report on Tuesday, August 27th. They set an “outperform” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $48.33.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The business had revenue of $26.86 billion for the quarter, compared to analysts’ expectations of $27.08 billion. During the same period in the previous year, the company posted $0.65 EPS. Comcast’s revenue was up 23.6% on a year-over-year basis. Equities research analysts anticipate that Comcast Co. will post 3.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, October 1st. Comcast’s dividend payout ratio is presently 32.94%.
In other Comcast news, Director Kenneth J. Bacon sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $45.03, for a total transaction of $180,120.00. Following the completion of the transaction, the director now owns 29,603 shares of the company’s stock, valued at approximately $1,333,023.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel C. Murdock sold 848 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total transaction of $37,507.04. Following the transaction, the senior vice president now directly owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.
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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