Comerica Bank Has $57.69 Million Stake in Comcast Corporation (CMCSA)
Comerica Bank decreased its stake in Comcast Corporation (NASDAQ:CMCSA) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,584 shares of the cable giant’s stock after selling 5,039 shares during the period. Comerica Bank’s holdings in Comcast Corporation were worth $57,689,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. United States Steel & Carnegie Pension Fund grew its holdings in Comcast Corporation by 100.0% during the first quarter. United States Steel & Carnegie Pension Fund now owns 1,126,216 shares of the cable giant’s stock worth $42,334,000 after purchasing an additional 563,108 shares during the period. Waldron LP grew its holdings in Comcast Corporation by 191.1% during the first quarter. Waldron LP now owns 46,885 shares of the cable giant’s stock worth $1,767,000 after purchasing an additional 30,777 shares during the period. Parsons Capital Management Inc. RI grew its holdings in Comcast Corporation by 101.4% during the first quarter. Parsons Capital Management Inc. RI now owns 294,701 shares of the cable giant’s stock worth $11,078,000 after purchasing an additional 148,383 shares during the period. Brookstone Capital Management grew its holdings in Comcast Corporation by 148.0% during the first quarter. Brookstone Capital Management now owns 15,690 shares of the cable giant’s stock worth $590,000 after purchasing an additional 9,363 shares during the period. Finally, Markel Corp grew its holdings in Comcast Corporation by 129.7% during the first quarter. Markel Corp now owns 209,000 shares of the cable giant’s stock worth $7,856,000 after purchasing an additional 118,000 shares during the period. Institutional investors own 81.84% of the company’s stock.
In other news, EVP Arthur R. Block sold 4,091 shares of the firm’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 in the company, valued at approximately $2,626,816.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the firm’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 owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,982 shares of company stock worth $385,050. Corporate insiders own 1.28% of the company’s stock.
CMCSA has been the subject of a number of research analyst reports. Bank of America Corporation lifted their price target on Comcast Corporation from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Guggenheim upgraded shares of Comcast Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, August 3rd. Barclays PLC set a $44.00 price objective on shares of Comcast Corporation and gave the stock a “buy” rating in a research report on Friday, July 14th. ValuEngine upgraded shares of Comcast Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, TD Securities initiated coverage on shares of Comcast Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $51.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.83.
Shares of Comcast Corporation (NASDAQ:CMCSA) opened at 36.90 on Friday. The company has a market cap of $173.92 billion, a PE ratio of 18.59 and a beta of 0.98. The firm’s 50 day moving average is $37.97 and its 200-day moving average is $39.19. Comcast Corporation has a 1-year low of $30.02 and a 1-year high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The firm had revenue of $21.17 billion for the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS. Equities analysts expect that Comcast Corporation will post $2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio (DPR) is currently 31.74%.
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About Comcast Corporation
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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