Parsons Capital Management Inc. RI lifted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 319,196 shares of the cable giant’s stock after acquiring an additional 1,683 shares during the quarter. Comcast comprises 1.5% of Parsons Capital Management Inc. RI’s holdings, making the stock its 9th biggest position. Parsons Capital Management Inc. RI’s holdings in Comcast were worth $13,496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Evolution Wealth Advisors LLC acquired a new stake in shares of Comcast in the second quarter worth $26,000. Clean Yield Group acquired a new stake in shares of Comcast in the first quarter worth $25,000. Mackey Komara & Dankovich LLC acquired a new stake in shares of Comcast in the first quarter worth $27,000. Bray Capital Advisors acquired a new stake in shares of Comcast in the second quarter worth $30,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Comcast in the second quarter worth $31,000. 82.66% of the stock is owned by institutional investors and hedge funds.
In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the transaction, the senior vice president now directly owns 4,712 shares in the company, valued at $195,359.52. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.35% of the stock is owned by company insiders.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Comcast Co. will post 3.07 EPS for the current fiscal year.
Several analysts have recently commented on CMCSA shares. Barclays raised their target price on Comcast from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Morgan Stanley raised their target price on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Rosenblatt Securities started coverage on Comcast in a research report on Friday, June 14th. They issued a “buy” rating and a $50.00 target price for the company. ValuEngine cut Comcast from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Pivotal Research reiterated a “buy” rating and set a $54.00 price objective on shares of Comcast in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $45.44.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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