Nippon Life Global Investors Americas Inc. increased its stake in Comcast Co. (NASDAQ:CMCSA) by 1.3% in the third quarter, HoldingsChannel.com reports. The firm owned 410,200 shares of the cable giant’s stock after purchasing an additional 5,310 shares during the quarter. Comcast makes up approximately 1.1% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 28th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Comcast were worth $14,525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. WP Advisors LLC bought a new stake in Comcast during the 2nd quarter worth about $105,000. IMA Wealth Inc. bought a new stake in Comcast during the 2nd quarter worth about $108,000. Prentiss Smith & Co. Inc. lifted its position in Comcast by 229.5% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock worth $108,000 after buying an additional 2,295 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in Comcast during the 3rd quarter worth about $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Comcast during the 2nd quarter worth about $129,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. BidaskClub raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Friday. Scotiabank set a $48.00 target price on shares of Comcast and gave the company a “buy” rating in a report on Wednesday. ValuEngine raised shares of Comcast from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group raised shares of Comcast from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. Finally, MED initiated coverage on shares of Comcast in a report on Wednesday, October 24th. They issued a “buy” rating and a $43.00 target price on the stock. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Comcast presently has an average rating of “Buy” and a consensus price target of $44.71.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 25th. 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 firm had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. Comcast had a net margin of 27.33% and a return on equity of 15.79%. As a group, equities analysts forecast that Comcast Co. will post 2.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.76 annualized dividend and a yield of 2.02%. Comcast’s dividend payout ratio is currently 36.89%.
In other Comcast news, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the transaction, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction dated 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 directly owns 62,476 shares in the company, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.
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.
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