Cornerstone Wealth Group LLC Trims Position in Comcast Co. (NASDAQ:CMCSA)
Cornerstone Wealth Group LLC lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 4.3% in the first quarter, Holdings Channel reports. The institutional investor owned 9,072 shares of the cable giant’s stock after selling 411 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Comcast were worth $312,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CMCSA. Private Portfolio Partners LLC grew its holdings in shares of Comcast by 1.8% during the fourth quarter. Private Portfolio Partners LLC now owns 12,609 shares of the cable giant’s stock worth $567,000 after purchasing an additional 224 shares in the last quarter. Marietta Wealth Management LLC lifted its position in Comcast by 1.5% in the 4th quarter. Marietta Wealth Management LLC now owns 15,153 shares of the cable giant’s stock worth $681,000 after buying an additional 225 shares during the last quarter. North Star Asset Management Inc. lifted its position in Comcast by 0.5% in the 4th quarter. North Star Asset Management Inc. now owns 49,392 shares of the cable giant’s stock worth $2,221,000 after buying an additional 236 shares during the last quarter. RDA Financial Network lifted its position in Comcast by 2.1% in the 4th quarter. RDA Financial Network now owns 11,450 shares of the cable giant’s stock worth $496,000 after buying an additional 240 shares during the last quarter. Finally, Capital Insight Partners LLC lifted its position in Comcast by 0.5% in the fourth quarter. Capital Insight Partners LLC now owns 49,361 shares of the cable giant’s stock valued at $2,220,000 after purchasing an additional 249 shares during the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.
In other Comcast news, CAO Daniel C. Murdock sold 1,038 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $36.55, for a total value of $37,938.90. Following the transaction, the chief accounting officer now owns 4,229 shares of the company’s stock, valued at $154,569.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David N. Watson sold 202,782 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $37.05, for a total value of $7,513,073.10. Following the completion of the transaction, the executive vice president now directly owns 893,424 shares in the company, valued at approximately $33,101,359.20. The disclosure for this sale can be found here. Insiders have sold 204,739 shares of company stock worth $7,585,502 over the last ninety days. 1.35% of the stock is currently owned by insiders.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 30th. The cable giant reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Comcast had a return on equity of 17.56% and a net margin of 10.72%. The firm had revenue of $26.61 billion for the quarter, compared to analysts’ expectations of $26.71 billion. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Comcast Co. will post 2.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.38%. Comcast’s dividend payout ratio (DPR) is presently 29.39%.
CMCSA has been the subject of several recent research reports. Wells Fargo & Co boosted their price objective on Comcast from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. UBS Group lowered their price objective on Comcast from $49.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. TD Securities decreased their target price on Comcast from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 6th. Citigroup upped their target price on Comcast from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Oppenheimer restated a “hold” rating on shares of Comcast in a report on Thursday, April 30th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Comcast currently has an average rating of “Buy” and a consensus target price of $48.19.
Comcast Company Profile
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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