Evercore Wealth Management LLC increased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,020 shares of the cable giant’s stock after buying an additional 2,247 shares during the quarter. Evercore Wealth Management LLC’s holdings in Comcast were worth $2,550,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. IMA Wealth Inc. purchased a new stake in shares of Comcast during the second quarter valued at approximately $108,000. Acropolis Investment Management LLC purchased a new stake in shares of Comcast during the third quarter valued at approximately $126,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Comcast during the second quarter valued at approximately $129,000. Resources Investment Advisors Inc. increased its position in shares of Comcast by 51.4% during the second quarter. Resources Investment Advisors Inc. now owns 4,465 shares of the cable giant’s stock valued at $147,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Comcast during the third quarter valued at approximately $149,000. 79.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Kenneth J. Bacon sold 7,636 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $37.04, for a total value of $282,837.44. Following the completion of the transaction, the director now directly owns 33,603 shares in the company, valued at approximately $1,244,655.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the completion of the transaction, the executive vice president now owns 74,644 shares of the company’s stock, valued at $2,648,369.12. The disclosure for this sale can be found here. Insiders have sold 20,909 shares of company stock valued at $759,602 over the last quarter. Company insiders own 1.31% of the company’s stock.
CMCSA has been the subject of several research reports. JPMorgan Chase & Co. started coverage on Comcast in a report on Friday, October 12th. They set an “overweight” rating and a $42.00 price objective for the company. BidaskClub raised Comcast from a “buy” rating to a “strong-buy” rating in a report on Friday, November 2nd. Scotiabank set a $48.00 price objective on Comcast and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Pivotal Research reiterated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a research report on Thursday, September 20th. Finally, Morgan Stanley began coverage on Comcast in a research report on Thursday, November 8th. They issued an “overweight” rating and a $46.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Comcast presently has a consensus rating of “Buy” and an average price target of $44.61.
NASDAQ CMCSA opened at $33.75 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $160.79 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Comcast had a net margin of 27.33% and a return on equity of 15.79%. The firm had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. As a group, analysts anticipate that Comcast Co. will post 2.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 2.25%. Comcast’s payout ratio is 36.89%.
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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.
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