Gabelli Funds LLC reduced its holdings in Comcast Corporation (NASDAQ:CMCSA) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,709,700 shares of the cable giant’s stock after selling 132,500 shares during the quarter. Gabelli Funds LLC’s holdings in Comcast were worth $65,789,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Gamco Investors INC. ET AL boosted its position in shares of Comcast by 0.5% during the third quarter. Gamco Investors INC. ET AL now owns 1,873,079 shares of the cable giant’s stock worth $72,076,000 after buying an additional 8,414 shares during the period. Veritas Asset Management LLP boosted its position in shares of Comcast by 3.7% during the third quarter. Veritas Asset Management LLP now owns 33,195,373 shares of the cable giant’s stock worth $1,277,358,000 after buying an additional 1,189,200 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Comcast by 4.2% during the third quarter. State of Wisconsin Investment Board now owns 6,407,987 shares of the cable giant’s stock worth $246,579,000 after buying an additional 259,039 shares during the period. Legacy Advisors LLC acquired a new position in shares of Comcast during the third quarter worth about $613,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Comcast by 1.0% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 780,605 shares of the cable giant’s stock worth $30,038,000 after buying an additional 7,576 shares during the period. Institutional investors own 82.13% of the company’s stock.
Several research analysts have recently weighed in on the company. Macquarie reaffirmed a “buy” rating and set a $40.00 price objective on shares of Comcast in a research report on Thursday, December 7th. Moffett Nathanson raised Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, September 12th. They noted that the move was a valuation call. OTR Global cut Comcast to a “positive” rating in a research report on Monday, October 30th. Barclays reduced their price objective on Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Comcast in a research report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.72.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.05 billion. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. equities analysts predict that Comcast Corporation will post 2.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be paid a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.53%. Comcast’s dividend payout ratio is 29.72%.
In other Comcast news, EVP Arthur R. Block sold 5,630 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $39.89, for a total value of $224,580.70. Following the sale, the executive vice president now owns 71,664 shares in the company, valued at $2,858,676.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total value of $22,576,899.45. Following the completion of the sale, the chairman now owns 1,711,798 shares in the company, valued at approximately $66,195,228.66. The disclosure for this sale can be found here. Insiders sold 593,402 shares of company stock worth $22,961,401 in the last 90 days. Corporate insiders own 1.28% of the company’s stock.
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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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