Cypress Capital Management LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,044 shares of the cable giant’s stock after selling 13,228 shares during the period. Comcast comprises about 2.1% of Cypress Capital Management LLC’s holdings, making the stock its 12th largest position. Cypress Capital Management LLC’s holdings in Comcast were worth $15,045,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Ropes Wealth Advisors LLC grew its holdings in shares of Comcast by 3.4% during the first quarter. Ropes Wealth Advisors LLC now owns 45,761 shares of the cable giant’s stock worth $2,631,000 after purchasing an additional 1,493 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Comcast by 88.8% during the first quarter. Insight Wealth Strategies LLC now owns 33,897 shares of the cable giant’s stock worth $1,834,000 after purchasing an additional 15,940 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Comcast by 5.2% during the first quarter. Ritholtz Wealth Management now owns 26,468 shares of the cable giant’s stock worth $1,432,000 after purchasing an additional 1,300 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Comcast during the first quarter worth about $407,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Comcast during the first quarter worth about $2,931,000. Institutional investors own 82.98% of the company’s stock.
Several equities analysts have issued reports on CMCSA shares. Oppenheimer raised Comcast from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, April 30th. Deutsche Bank Aktiengesellschaft raised their price target on Comcast from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, May 4th. Raymond James raised their price target on Comcast from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, April 30th. Morgan Stanley raised their price target on Comcast from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 4th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on Comcast from $59.00 to $62.00 in a report on Friday, April 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.86.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 29th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.17. Comcast had a net margin of 11.25% and a return on equity of 13.75%. The company had revenue of $27.21 billion during the quarter, compared to the consensus estimate of $26.83 billion. During the same period last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that Comcast Co. will post 2.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Wednesday, July 7th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Comcast’s payout ratio is 38.31%.
In related news, Director Kenneth J. Bacon sold 4,031 shares of Comcast stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $56.89, for a total transaction of $229,323.59. Following the completion of the transaction, the director now directly owns 29,580 shares in the company, valued at approximately $1,682,806.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth J. Bacon sold 3,966 shares of Comcast stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $58.83, for a total value of $233,319.78. Following the transaction, the director now owns 33,611 shares of the company’s stock, valued at $1,977,335.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 717,670 shares of company stock valued at $39,636,593. Insiders own 1.04% of the company’s stock.
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, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.
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