Comcast Corporation (CMCSA) Holdings Cut by First Manhattan Co.
First Manhattan Co. decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,991,428 shares of the cable giant’s stock after selling 116,822 shares during the quarter. Comcast Corporation comprises approximately 2.0% of First Manhattan Co.’s investment portfolio, making the stock its 8th largest position. First Manhattan Co. owned approximately 0.13% of Comcast Corporation worth $233,187,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after acquiring an additional 98,570,377 shares during the period. Clearbridge Investments LLC raised its holdings in Comcast Corporation by 97.6% during the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after buying an additional 48,147,456 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Comcast Corporation by 95.7% during the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after buying an additional 29,199,805 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Comcast Corporation by 103.1% in the first quarter. Bank of New York Mellon Corp now owns 56,323,747 shares of the cable giant’s stock valued at $2,117,212,000 after buying an additional 28,597,277 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Comcast Corporation by 56.9% in the first quarter. First Eagle Investment Management LLC now owns 34,799,928 shares of the cable giant’s stock valued at $1,308,129,000 after buying an additional 12,625,830 shares in the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.
Comcast Corporation (NASDAQ CMCSA) opened at 38.30 on Wednesday. The firm’s 50 day moving average is $39.17 and its 200 day moving average is $39.23. Comcast Corporation has a 1-year low of $30.02 and a 1-year high of $42.18. The stock has a market capitalization of $180.52 billion, a P/E ratio of 19.29 and a beta of 0.98.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The firm had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. On average, equities research analysts anticipate that Comcast Corporation will post $2.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s payout ratio is presently 31.74%.
CMCSA has been the subject of a number of analyst reports. KeyCorp reiterated a “neutral” rating on shares of Comcast Corporation in a report on Sunday, September 17th. UBS AG reaffirmed an “overweight” rating on shares of Comcast Corporation in a research report on Thursday, August 24th. Argus raised their price target on shares of Comcast Corporation from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Barclays PLC set a $44.00 price target on Comcast Corporation and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Robert W. Baird reiterated a “buy” rating and set a $43.00 price target on shares of Comcast Corporation in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.83.
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In related news, EVP Arthur R. Block sold 4,091 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the sale, the executive vice president now owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the sale, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. Insiders have sold a total of 9,982 shares of company stock valued at $385,050 in the last 90 days. 1.28% of the stock is currently owned by company insiders.
Comcast Corporation Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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