Covington Capital Management grew its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2,220.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,994 shares of the cable giant’s stock after purchasing an additional 106,211 shares during the period. Covington Capital Management’s holdings in Comcast were worth $5,004,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Outlook Wealth Advisors LLC boosted its holdings in Comcast by 2.3% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 9,741 shares of the cable giant’s stock valued at $439,000 after purchasing an additional 219 shares in the last quarter. Barber Financial Group Inc. boosted its holdings in Comcast by 4.7% in the 3rd quarter. Barber Financial Group Inc. now owns 5,295 shares of the cable giant’s stock valued at $241,000 after purchasing an additional 236 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Comcast by 6.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 4,134 shares of the cable giant’s stock valued at $175,000 after purchasing an additional 240 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Comcast by 3.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 6,853 shares of the cable giant’s stock valued at $309,000 after acquiring an additional 241 shares during the period. Finally, Personal Wealth Partners lifted its position in shares of Comcast by 44.2% during the 3rd quarter. Personal Wealth Partners now owns 790 shares of the cable giant’s stock valued at $36,000 after acquiring an additional 242 shares during the period. Institutional investors own 82.64% of the company’s stock.
In other Comcast news, Director Sheldon M. Bonovitz sold 5,600 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $45.47, for a total value of $254,632.00. Following the completion of the sale, the director now owns 27,912 shares in the company, valued at approximately $1,269,158.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian L. Roberts sold 508,248 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $44.98, for a total transaction of $22,860,995.04. Following the completion of the sale, the chief executive officer now owns 4,108,522 shares of the company’s stock, valued at approximately $184,801,319.56. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.
CMCSA has been the subject of a number of research reports. Guggenheim set a $57.00 price target on shares of Comcast and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America set a $58.00 price objective on Comcast and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cfra set a $50.00 price objective on Comcast and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Sanford C. Bernstein started coverage on Comcast in a research report on Tuesday, October 15th. They set a “market perform” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Co initiated coverage on Comcast in a research report on Tuesday, August 27th. They set an “outperform” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.52.
CMCSA traded down $0.14 on Wednesday, hitting $43.51. 16,872,594 shares of the company’s stock were exchanged, compared to its average volume of 17,833,455. Comcast Co. has a twelve month low of $32.61 and a twelve month high of $47.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market cap of $200.85 billion, a PE ratio of 17.06, a P/E/G ratio of 1.18 and a beta of 1.05. The stock has a fifty day moving average of $44.80 and a two-hundred day moving average of $44.00.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 24th. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $26.83 billion during the quarter, compared to analysts’ expectations of $26.77 billion. Comcast had a net margin of 11.45% and a return on equity of 24.25%. Comcast’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, analysts predict that Comcast Co. will post 3.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, January 7th. Comcast’s dividend payout ratio is presently 32.94%.
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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