Beacon Financial Group Invests $397,000 in Comcast Co. (CMCSA)
Beacon Financial Group purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,919 shares of the cable giant’s stock, valued at approximately $397,000.
Several other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Biegel & Waller LLC bought a new position in shares of Comcast in the second quarter worth approximately $432,000. Penobscot Investment Management Company Inc. increased its position in shares of Comcast by 3.0% in the second quarter. Penobscot Investment Management Company Inc. now owns 98,387 shares of the cable giant’s stock worth $3,829,000 after purchasing an additional 2,828 shares during the last quarter. Jennison Associates LLC increased its position in shares of Comcast by 1.4% in the second quarter. Jennison Associates LLC now owns 6,126,289 shares of the cable giant’s stock worth $238,435,000 after purchasing an additional 83,461 shares during the last quarter. iAB Financial Bank bought a new position in shares of Comcast in the second quarter worth approximately $244,000. Finally, Quinn Opportunity Partners LLC increased its position in shares of Comcast by 97.6% in the second quarter. Quinn Opportunity Partners LLC now owns 48,600 shares of the cable giant’s stock worth $1,892,000 after purchasing an additional 24,000 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Shares of Comcast Co. (NASDAQ CMCSA) opened at $38.57 on Friday. The firm has a market capitalization of $180,270.00, a P/E ratio of 8.07, a PEG ratio of 1.47 and a beta of 1.04. Comcast Co. has a 52 week low of $34.78 and a 52 week high of $44.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.74 and a current ratio of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a positive change from Comcast’s previous quarterly dividend of $0.16. Comcast’s dividend payout ratio is 13.18%.
Several research firms recently weighed in on CMCSA. Pivotal Research restated a “buy” rating and issued a $52.00 price objective on shares of Comcast in a research report on Wednesday, January 24th. Wells Fargo & Co upped their price objective on shares of Comcast from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Bank of America upped their price objective on shares of Comcast from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TD Securities upped their target price on Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays set a $43.00 target price on Comcast and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.74.
In related news, EVP Stephen B. Burke sold 190,756 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $42.51, for a total transaction of $8,109,037.56. Following the completion of the transaction, the executive vice president now owns 1,214,811 shares in the company, valued at $51,641,615.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Brian L. Roberts sold 583,835 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total value of $22,576,899.45. Following the transaction, the chairman now owns 1,711,798 shares of the company’s stock, valued at approximately $66,195,228.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 784,158 shares of company stock valued at $31,070,439. Insiders own 1.28% of the company’s stock.
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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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