Comcast Corporation (CMCSA) Shares Sold by Spinnaker Trust
Spinnaker Trust cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,445 shares of the cable giant’s stock after selling 4,390 shares during the quarter. Spinnaker Trust’s holdings in Comcast were worth $3,095,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CMCSA. Zions Bancorporation boosted its position in shares of Comcast by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after buying an additional 410 shares during the period. Clear Perspective Advisors LLC boosted its position in shares of Comcast by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after buying an additional 1,362 shares during the period. MPS Loria Financial Planners LLC purchased a new stake in shares of Comcast in the second quarter worth about $107,000. First Bank & Trust boosted its position in shares of Comcast by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after buying an additional 1,302 shares during the period. Finally, Founders Capital Management purchased a new stake in shares of Comcast in the first quarter worth about $113,000. Institutional investors own 82.13% of the company’s stock.
Comcast Corporation (NASDAQ:CMCSA) opened at $40.78 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 1-year low of $34.12 and a 1-year high of $42.18. The company has a market capitalization of $190,736.59, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.01.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.05 billion. During the same quarter last year, the business posted $0.92 EPS. Comcast’s quarterly revenue was down 1.6% compared to the same quarter last year. sell-side analysts expect that Comcast Corporation will post 2.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.157 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Tuesday, January 2nd. Comcast’s payout ratio is 30.36%.
A number of research analysts recently commented on the company. ValuEngine downgraded Comcast from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Pivotal Research increased their price target on Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 27th. Moffett Nathanson raised Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, September 12th. They noted that the move was a valuation call. Barclays reduced their price target on Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, October 27th. Finally, KeyCorp reissued a “neutral” rating on shares of Comcast in a report on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the company. Comcast presently has a consensus rating of “Buy” and a consensus price target of $45.72.
In other news, EVP Arthur R. Block sold 4,091 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the sale, the executive vice president now directly owns 68,478 shares in the company, valued at approximately $2,626,816.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Brian L. Roberts sold 583,835 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the sale, the chairman now owns 1,711,798 shares in the company, valued at $66,195,228.66. The disclosure for this sale can be found here. Insiders have sold a total of 593,556 shares of company stock worth $22,958,411 over the last quarter. Insiders own 1.28% of the company’s stock.
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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