Welch & Forbes LLC Decreases Holdings in Comcast Co. (CMCSA)

Welch & Forbes LLC cut its stake in Comcast Co. (NASDAQ:CMCSA) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 765,331 shares of the cable giant’s stock after selling 26,494 shares during the quarter. Welch & Forbes LLC’s holdings in Comcast were worth $27,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Aureus Asset Management LLC increased its stake in Comcast by 12.1% during the 2nd quarter. Aureus Asset Management LLC now owns 44,208 shares of the cable giant’s stock valued at $1,450,000 after purchasing an additional 4,778 shares in the last quarter. BBT Capital Management LLC bought a new stake in Comcast during the 2nd quarter valued at about $5,906,000. Cox Capital Co LLC bought a new stake in Comcast during the 2nd quarter valued at about $1,007,000. Wasatch Advisors Inc. increased its stake in Comcast by 8.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 68,900 shares of the cable giant’s stock valued at $2,261,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Cumberland Partners Ltd increased its stake in Comcast by 39.6% during the 2nd quarter. Cumberland Partners Ltd now owns 133,850 shares of the cable giant’s stock valued at $4,391,000 after purchasing an additional 37,950 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

In other Comcast news, EVP Arthur R. Block sold 6,448 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 74,644 shares in the company, valued at approximately $2,648,369.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur R. Block sold 1,082 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $35.94, for a total transaction of $38,887.08. Following the sale, the executive vice president now owns 62,476 shares in the company, valued at approximately $2,245,387.44. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

A number of research firms have weighed in on CMCSA. Pivotal Research restated a “buy” rating and set a $45.00 price objective on shares of Comcast in a research note on Tuesday, June 26th. ValuEngine raised shares of Comcast from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. Robert W. Baird dropped their price target on shares of Comcast from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Monday, July 30th. Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group assumed coverage on shares of Comcast in a report on Tuesday, July 10th. They set a “neutral” rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have assigned a buy rating to the company. Comcast presently has a consensus rating of “Buy” and a consensus price target of $44.85.

Shares of CMCSA traded down $0.16 on Wednesday, reaching $35.84. The company’s stock had a trading volume of 281,890 shares, compared to its average volume of 25,322,826. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. The company has a market cap of $164.46 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.12 and a beta of 1.19. Comcast Co. has a 12-month low of $30.43 and a 12-month high of $44.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 26th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.85 billion. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, analysts predict that Comcast Co. will post 2.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, October 2nd. Comcast’s payout ratio is 36.89%.

Comcast Company Profile

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: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply