Bank of Montreal Can Raises Stake in Comcast Co. (CMCSA)
Bank of Montreal Can grew its holdings in Comcast Co. (NASDAQ:CMCSA) by 43.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,597,172 shares of the cable giant’s stock after purchasing an additional 6,893,674 shares during the period. Comcast comprises 0.6% of Bank of Montreal Can’s portfolio, making the stock its 26th largest holding. Bank of Montreal Can’s holdings in Comcast were worth $800,167,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. WP Advisors LLC acquired a new position in Comcast in the second quarter worth approximately $105,000. Prentiss Smith & Co. Inc. increased its holdings in Comcast by 229.5% in the second quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock worth $108,000 after buying an additional 2,295 shares during the last quarter. IMA Wealth Inc. acquired a new position in Comcast in the second quarter worth approximately $108,000. Acropolis Investment Management LLC acquired a new position in Comcast in the third quarter worth approximately $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Comcast in the second quarter worth approximately $129,000. Institutional investors own 80.15% of the company’s stock.
CMCSA opened at $34.62 on Friday. Comcast Co. has a 1-year low of $30.43 and a 1-year high of $44.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $164.46 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. Comcast’s dividend payout ratio is 36.89%.
A number of equities analysts recently commented on CMCSA shares. Pivotal Research restated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a report on Thursday, September 20th. TD Securities decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. KeyCorp upped their target price on Comcast from $38.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 26th. UBS Group cut Comcast from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Finally, ValuEngine raised Comcast from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the stock. Comcast presently has an average rating of “Buy” and an average target price of $44.96.
In related news, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares in the company, valued at $2,648,369.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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