Guinness Asset Management Ltd boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 11.0% during the third quarter, HoldingsChannel.com reports. The firm owned 202,160 shares of the cable giant’s stock after purchasing an additional 19,960 shares during the quarter. Guinness Asset Management Ltd’s holdings in Comcast were worth $7,158,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of CMCSA. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Comcast by 108.8% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock valued at $1,158,311,000 after purchasing an additional 17,663,290 shares during the period. Massachusetts Financial Services Co. MA raised its position in Comcast by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock worth $4,864,907,000 after acquiring an additional 12,823,994 shares during the period. FMR LLC raised its position in Comcast by 7.5% in the second quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock worth $3,669,961,000 after acquiring an additional 7,812,415 shares during the period. Bank of Montreal Can raised its position in Comcast by 43.9% in the third quarter. Bank of Montreal Can now owns 22,597,172 shares of the cable giant’s stock worth $800,167,000 after acquiring an additional 6,893,674 shares during the period. Finally, Natixis bought a new position in Comcast in the second quarter worth approximately $147,520,000. Institutional investors own 80.15% of the company’s stock.
In other Comcast news, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares in the company, valued at $2,245,387.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total transaction of $228,775.04. Following the transaction, the executive vice president now owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 26th. The cable giant reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Comcast had a net margin of 27.42% and a return on equity of 15.92%. Comcast’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, research analysts predict that Comcast Co. will post 2.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 2nd. This represents a $0.76 annualized dividend and a yield of 2.11%. Comcast’s payout ratio is 36.89%.
Several research analysts have weighed in on the stock. Pivotal Research reiterated a “buy” rating on shares of Comcast in a research report on Friday, August 10th. Raymond James upgraded shares of Comcast from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 19th. Credit Suisse Group initiated coverage on shares of Comcast in a research report on Tuesday, July 10th. They issued a “neutral” rating and a $36.00 price target on the stock. Moffett Nathanson reissued a “neutral” rating and issued a $36.00 price objective on shares of Comcast in a research note on Monday, September 24th. Finally, ValuEngine cut shares of Comcast from a “sell” rating to a “strong sell” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.85.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
See Also: Retained Earnings
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