Comcast Co. (CMCSA) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 189,224 shares of the cable giant’s stock after selling 472 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Comcast were worth $6,443,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CMCSA. Acima Private Wealth LLC acquired a new stake in Comcast in the fourth quarter valued at $25,000. Litman Gregory Asset Management LLC acquired a new stake in Comcast in the fourth quarter valued at $30,000. Ironwood Financial llc acquired a new stake in Comcast in the fourth quarter valued at $32,000. IMS Capital Management acquired a new stake in Comcast in the third quarter valued at $38,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in Comcast in the fourth quarter valued at $52,000. Institutional investors own 80.18% of the company’s stock.
A number of analysts recently weighed in on the company. BidaskClub upgraded Comcast from a “sell” rating to a “hold” rating in a report on Monday, February 25th. ValuEngine upgraded Comcast from a “sell” rating to a “hold” rating in a report on Friday, February 8th. TD Securities increased their price objective on Comcast from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 24th. Credit Suisse Group restated a “buy” rating and issued a $44.00 price objective on shares of Comcast in a report on Tuesday, January 22nd. Finally, Macquarie restated a “hold” rating and issued a $39.00 price objective on shares of Comcast in a report on Monday, December 24th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.76.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $27.85 billion for the quarter, compared to analysts’ expectations of $27.56 billion. Comcast had a net margin of 12.41% and a return on equity of 16.49%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. As a group, sell-side analysts predict that Comcast Co. will post 2.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 2.08%. This is a boost from Comcast’s previous quarterly dividend of $0.19. Comcast’s dividend payout ratio is 29.80%.
In other news, EVP David N. Watson sold 201,007 shares of the stock in a transaction dated Thursday, February 21st. The shares were 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 of the company’s stock, valued at approximately $31,337,273.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 4,129 shares of the stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $33.80, for a total transaction of $139,560.20. Following the transaction, the executive vice president now directly owns 67,912 shares in the company, valued at approximately $2,295,425.60. The disclosure for this sale can be found here. Insiders have sold 912,661 shares of company stock worth $34,195,979 in the last ninety days. Insiders own 1.31% of the company’s stock.
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.
Further Reading: What is the NASDAQ?
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.