VeraBank N.A. Increases Position in Comcast Co. (NASDAQ:CMCSA)

VeraBank N.A. lifted its position in Comcast Co. (NASDAQ:CMCSA) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 7,806 shares of the cable giant’s stock after buying an additional 283 shares during the period. VeraBank N.A.’s holdings in Comcast were worth $352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in shares of Comcast by 1,088.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 40,918,884 shares of the cable giant’s stock valued at $1,730,050,000 after acquiring an additional 37,474,814 shares during the period. APG Asset Management N.V. increased its position in shares of Comcast by 89.7% in the 2nd quarter. APG Asset Management N.V. now owns 19,074,628 shares of the cable giant’s stock valued at $708,180,000 after acquiring an additional 9,020,100 shares during the period. BlackRock Inc. increased its position in shares of Comcast by 2.7% in the 2nd quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock valued at $13,748,022,000 after acquiring an additional 8,635,296 shares during the period. Vanguard Group Inc. increased its position in shares of Comcast by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock valued at $16,552,290,000 after acquiring an additional 7,792,136 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd acquired a new position in shares of Comcast in the 2nd quarter valued at $305,744,000. Hedge funds and other institutional investors own 82.75% of the company’s stock.

NASDAQ:CMCSA traded up $1.11 during mid-day trading on Friday, hitting $45.61. The company’s stock had a trading volume of 881,398 shares, compared to its average volume of 16,185,189. Comcast Co. has a 1 year low of $32.61 and a 1 year high of $47.27. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.21 and a beta of 1.08. The business’s fifty day moving average is $45.06 and its two-hundred day moving average is $43.15.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The business had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Analysts anticipate that Comcast Co. will post 3.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 1st. Comcast’s payout ratio is currently 32.94%.

In other news, SVP Daniel C. Murdock sold 848 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total transaction of $37,507.04. Following the sale, the senior vice president now directly owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth J. Bacon sold 4,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total transaction of $180,120.00. Following the sale, the director now directly owns 29,603 shares in the company, valued at $1,333,023.09. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Several research firms recently issued reports on CMCSA. Pivotal Research upped their target price on Comcast from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Goldman Sachs Group raised Comcast from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $54.00 in a research report on Wednesday, July 10th. Oppenheimer raised Comcast from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Thursday, September 5th. Wells Fargo & Co began coverage on Comcast in a research report on Tuesday, August 27th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Macquarie began coverage on Comcast in a research report on Wednesday, June 19th. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $48.70.

Comcast Company Profile

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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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