Signet Financial Management LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)
Signet Financial Management LLC decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 33.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,235 shares of the cable giant’s stock after selling 58,948 shares during the quarter. Comcast makes up 1.0% of Signet Financial Management LLC’s holdings, making the stock its 29th largest holding. Signet Financial Management LLC’s holdings in Comcast were worth $5,232,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. APG Asset Management N.V. raised 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 worth $708,180,000 after acquiring an additional 9,020,100 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Comcast by 1.4% in the 2nd quarter. Captrust Financial Advisors now owns 241,045 shares of the cable giant’s stock worth $10,191,000 after buying an additional 3,322 shares during the last quarter. Highland Private Wealth Management grew its position in shares of Comcast by 26.7% in the 2nd quarter. Highland Private Wealth Management now owns 9,365 shares of the cable giant’s stock worth $396,000 after buying an additional 1,976 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Comcast by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,744,726 shares of the cable giant’s stock worth $1,553,567,000 after acquiring an additional 294,244 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Comcast by 6.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 15,173,633 shares of the cable giant’s stock worth $641,541,000 after acquiring an additional 983,751 shares in the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.
In related news, Director Kenneth J. Bacon sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $45.03, for a total transaction of $180,120.00. Following the completion of the transaction, the director now owns 29,603 shares of the company’s stock, valued at $1,333,023.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel C. Murdock sold 1,701 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the transaction, the senior vice president now directly owns 4,712 shares of the company’s stock, valued at approximately $195,359.52. The disclosure for this sale can be found here. Insiders sold a total of 6,549 shares of company stock valued at $288,151 in the last 90 days. 1.35% of the stock is owned by company insiders.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.08 billion. During the same period last year, the firm earned $0.65 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts anticipate that Comcast Co. will post 3.09 earnings per share for the current year.
Several equities analysts have issued reports on CMCSA shares. Morgan Stanley lifted their price target on shares of Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James lowered shares of Comcast from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $25.00 to $21.00 in a report on Friday, June 14th. Bank of America set a $58.00 target price on Comcast and gave the company a “buy” rating in a research report on Wednesday, August 21st. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Goldman Sachs Group raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $54.00 in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Comcast currently has an average rating of “Buy” and an average price target of $46.97.
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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