IFM Investors Pty Ltd lifted its position in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 19.9% during the first quarter, HoldingsChannel.com reports. The fund owned 719,213 shares of the cable giant’s stock after acquiring an additional 119,226 shares during the period. IFM Investors Pty Ltd’s holdings in Comcast were worth $33,674,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CMCSA. AHL Investment Management Inc. acquired a new position in Comcast during the fourth quarter worth $30,000. Sandy Cove Advisors LLC acquired a new position in Comcast during the fourth quarter worth $31,000. Core Alternative Capital boosted its stake in Comcast by 86.9% during the fourth quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock worth $34,000 after buying an additional 318 shares during the last quarter. Rise Advisors LLC acquired a new position in Comcast during the fourth quarter worth $36,000. Finally, Emerson Wealth LLC acquired a new position in Comcast during the fourth quarter worth $37,000. 83.33% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Pivotal Research lowered their price objective on Comcast from $55.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on Comcast from $60.00 to $54.00 and set a “maintains” rating on the stock in a research note on Friday. StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 15th. Cowen decreased their price target on Comcast from $60.00 to $51.00 in a research note on Friday. Finally, Daiwa Capital Markets assumed coverage on Comcast in a research note on Friday, July 1st. They issued an “outperform” rating and a $43.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.39.
Comcast Price Performance
Comcast (NASDAQ:CMCSA – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The cable giant reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The business had revenue of $30.02 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Comcast Co. will post 3.61 EPS for the current fiscal year.
Comcast Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.88%. Comcast’s payout ratio is currently 34.84%.
In other news, CAO Daniel C. Murdock sold 8,929 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $44.50, for a total value of $397,340.50. Following the transaction, the chief accounting officer now owns 1,817 shares in the company, valued at approximately $80,856.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.11% of the company’s stock.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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