New Jersey Better Educational Savings Trust raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 20.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,000 shares of the cable giant’s stock after purchasing an additional 4,000 shares during the quarter. Comcast Corporation accounts for 0.8% of New Jersey Better Educational Savings Trust’s holdings, making the stock its 24th largest holding. New Jersey Better Educational Savings Trust’s holdings in Comcast Corporation were worth $934,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CMCSA. United States Steel & Carnegie Pension Fund grew its stake in shares of Comcast Corporation by 100.0% in the first quarter. United States Steel & Carnegie Pension Fund now owns 1,126,216 shares of the cable giant’s stock valued at $42,334,000 after buying an additional 563,108 shares in the last quarter. Waldron LP grew its stake in shares of Comcast Corporation by 191.1% in the first quarter. Waldron LP now owns 46,885 shares of the cable giant’s stock valued at $1,767,000 after buying an additional 30,777 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its stake in shares of Comcast Corporation by 109.3% in the first quarter. Reynders McVeigh Capital Management LLC now owns 19,142 shares of the cable giant’s stock valued at $720,000 after buying an additional 9,995 shares in the last quarter. Conning Inc. grew its stake in shares of Comcast Corporation by 90.1% in the first quarter. Conning Inc. now owns 148,541 shares of the cable giant’s stock valued at $5,584,000 after buying an additional 70,391 shares in the last quarter. Finally, Dowling & Yahnke LLC grew its stake in shares of Comcast Corporation by 99.1% in the first quarter. Dowling & Yahnke LLC now owns 262,930 shares of the cable giant’s stock valued at $9,884,000 after buying an additional 130,858 shares in the last quarter. Institutional investors own 81.93% of the company’s stock.
Several research analysts recently commented on the company. Guggenheim raised Comcast Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $46.00 in a research note on Thursday, August 3rd. BidaskClub cut Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Instinet reissued a “buy” rating and set a $46.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Wells Fargo & Company reissued an “outperform” rating and set a $44.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Finally, Moffett Nathanson raised Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, September 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Comcast Corporation presently has a consensus rating of “Buy” and an average price target of $45.83.
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Comcast Corporation (NASDAQ CMCSA) opened at 35.95 on Friday. The stock’s 50 day moving average price is $38.52 and its 200-day moving average price is $39.22. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18. The stock has a market capitalization of $169.45 billion, a P/E ratio of 18.11 and a beta of 0.98.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion for the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities research analysts expect that Comcast Corporation will post $2.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.1575 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. Comcast Corporation’s dividend payout ratio (DPR) is presently 31.74%.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total transaction of $83,186.64. Following the sale, the director now owns 24,580 shares of the company’s stock, valued at $916,096.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,982 shares of company stock worth $385,050. Corporate insiders own 1.28% of the company’s stock.
About Comcast Corporation
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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