Investors Buy Comcast (CMCSA) on Weakness After Insider Selling

Investors bought shares of Comcast Co. (NASDAQ:CMCSA) on weakness during trading on Friday after an insider sold shares in the company. $121.89 million flowed into the stock on the tick-up and $54.23 million flowed out of the stock on the tick-down, for a money net flow of $67.66 million into the stock. Of all companies tracked, Comcast had the 15th highest net in-flow for the day. Comcast traded down ($0.14) for the day and closed at $42.43Specifically, EVP David N. Watson sold 201,007 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $38.31, for a total transaction of $7,700,578.17. Following the completion of the sale, the executive vice president now directly owns 817,992 shares in the company, valued at $31,337,273.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel C. Murdock sold 845 shares of the firm’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $35.55, for a total transaction of $30,039.75. Following the sale, the senior vice president now owns 1,005 shares of the company’s stock, valued at $35,727.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,290,226 shares of company stock valued at $49,311,328. 1.31% of the stock is currently owned by corporate insiders.

A number of analysts have issued reports on CMCSA shares. BidaskClub upgraded shares of Comcast from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Credit Suisse Group reiterated a “buy” rating and issued a $44.00 target price on shares of Comcast in a research note on Tuesday, January 22nd. Royal Bank of Canada cut shares of Comcast from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $42.00 in a research note on Friday, March 29th. Macquarie upgraded shares of Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Tuesday, April 9th. Finally, ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Comcast has an average rating of “Buy” and an average price target of $44.45.

The firm has a market cap of $197.07 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.48.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $27.85 billion for the quarter, compared to analyst estimates of $27.56 billion. Comcast had a net margin of 12.41% and a return on equity of 16.49%. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that Comcast Co. will post 2.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a $0.21 dividend. This is a positive change from Comcast’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, April 2nd. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. Comcast’s dividend payout ratio is presently 32.94%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Comcast during the 4th quarter worth about $1,590,157,000. Oregon Public Employees Retirement Fund lifted its position in Comcast by 6,558.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,520,863 shares of the cable giant’s stock worth $984,000 after buying an additional 33,017,459 shares in the last quarter. Geode Capital Management LLC lifted its position in Comcast by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock worth $2,165,450,000 after buying an additional 5,992,911 shares in the last quarter. FMR LLC lifted its position in Comcast by 3.9% during the 4th quarter. FMR LLC now owns 128,168,481 shares of the cable giant’s stock worth $4,364,136,000 after buying an additional 4,854,006 shares in the last quarter. Finally, Sound Shore Management Inc. CT acquired a new position in Comcast during the 4th quarter worth about $151,101,000. 81.15% of the stock is currently owned by institutional investors and hedge funds.

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Comcast Company Profile (NASDAQ:CMCSA)

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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