Laurion Capital Management LP trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 89.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,608 shares of the cable giant’s stock after selling 476,192 shares during the period. Laurion Capital Management LP’s holdings in Comcast were worth $3,285,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wagner Wealth Management LLC bought a new position in shares of Comcast in the first quarter valued at approximately $28,000. Newton One Investments LLC purchased a new position in Comcast in the second quarter valued at approximately $28,000. Baron Financial Group LLC lifted its stake in Comcast by 688.6% in the second quarter. Baron Financial Group LLC now owns 552 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 482 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Comcast in the first quarter valued at approximately $37,000. Finally, Lake Point Wealth Management purchased a new position in Comcast in the second quarter valued at approximately $41,000. 82.49% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on CMCSA shares. Truist Securities upped their price objective on Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Morgan Stanley upped their price objective on Comcast from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Truist upped their price objective on Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Credit Suisse Group increased their target price on Comcast from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Finally, Benchmark increased their target price on Comcast from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Buy” and an average price target of $65.24.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 29th. The cable giant reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.17. Comcast had a net margin of 11.44% and a return on equity of 14.15%. The business had revenue of $28.55 billion for the quarter, compared to analysts’ expectations of $27.14 billion. As a group, equities analysts forecast that Comcast Co. will post 3.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Stockholders of record on Wednesday, October 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Comcast’s payout ratio is currently 38.31%.
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.
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