Glenview Trust Co reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,038 shares of the cable giant’s stock after selling 60 shares during the period. Glenview Trust Co’s holdings in Comcast were worth $663,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Comcast by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after acquiring an additional 8,677,771 shares during the period. State Street Corp increased its position in Comcast by 97.6% in the 1st quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after acquiring an additional 98,570,377 shares during the period. Clearbridge Investments LLC increased its position in Comcast by 97.6% in the 1st quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after acquiring an additional 48,147,456 shares during the period. Bank of New York Mellon Corp increased its position in Comcast by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after acquiring an additional 680,012 shares during the period. Finally, Alliancebernstein L.P. increased its position in Comcast by 6.0% in the 2nd quarter. Alliancebernstein L.P. now owns 32,710,682 shares of the cable giant’s stock valued at $1,273,100,000 after acquiring an additional 1,839,436 shares during the period. 82.50% of the stock is owned by institutional investors and hedge funds.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the sale, the director now owns 24,580 shares in the company, valued at approximately $916,096.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 4,091 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $20.98 billion for the quarter, compared to analysts’ expectations of $21.05 billion. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. analysts expect that Comcast Corporation will post 2.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a $0.157 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 2nd. Comcast’s dividend payout ratio is currently 29.72%.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Comcast from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Moffett Nathanson upgraded Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 12th. They noted that the move was a valuation call. ValuEngine cut Comcast from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reiterated an “outperform” rating on shares of Comcast in a research report on Wednesday, September 20th. Finally, Barclays dropped their target price on Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.93.
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Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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