Parsec Financial Management Inc. reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 280,221 shares of the cable giant’s stock after selling 18,743 shares during the quarter. Parsec Financial Management Inc.’s holdings in Comcast were worth $11,203,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. PDS Planning Inc bought a new stake in Comcast during the first quarter worth about $226,000. Resources Investment Advisors Inc. raised its holdings in Comcast by 26.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 5,395 shares of the cable giant’s stock worth $184,000 after acquiring an additional 1,117 shares in the last quarter. National Asset Management Inc. raised its holdings in Comcast by 5.3% during the fourth quarter. National Asset Management Inc. now owns 55,899 shares of the cable giant’s stock worth $1,906,000 after acquiring an additional 2,831 shares in the last quarter. Haverford Trust Co. raised its holdings in Comcast by 0.3% during the fourth quarter. Haverford Trust Co. now owns 3,110,244 shares of the cable giant’s stock worth $105,904,000 after acquiring an additional 8,001 shares in the last quarter. Finally, Lee Capital Holdings LLC raised its holdings in Comcast by 352.0% during the fourth quarter. Lee Capital Holdings LLC now owns 27,000 shares of the cable giant’s stock worth $919,000 after acquiring an additional 21,026 shares in the last quarter. 81.61% of the stock is owned by institutional investors.
Several research firms have issued reports on CMCSA. KeyCorp upped their price objective on Comcast from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. TD Securities upped their price objective on Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Morgan Stanley upped their price objective on Comcast from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, ValuEngine upgraded Comcast from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Comcast currently has an average rating of “Buy” and an average price target of $44.65.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The company had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.27 billion. Comcast had a return on equity of 17.04% and a net margin of 12.34%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. Equities research analysts predict that Comcast Co. will post 2.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. Comcast’s dividend payout ratio (DPR) is currently 32.94%.
In other news, EVP David N. Watson sold 201,007 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $38.31, for a total transaction of $7,700,578.17. Following the transaction, the executive vice president now owns 817,992 shares in the company, valued at $31,337,273.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen B. Burke sold 457,633 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $43.35, for a total value of $19,838,390.55. Following the transaction, the executive vice president now owns 1,078,189 shares in the company, valued at approximately $46,739,493.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,050,544 shares of company stock worth $43,190,058. 1.35% of the stock is owned by corporate insiders.
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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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