Comcast Co. (NASDAQ:CMCSA) Shares Sold by Quarry LP

Quarry LP lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 42.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,423 shares of the cable giant’s stock after selling 2,539 shares during the period. Quarry LP’s holdings in Comcast were worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Royal London Asset Management Ltd. boosted its stake in shares of Comcast by 1.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,151,123 shares of the cable giant’s stock worth $89,852,000 after acquiring an additional 36,730 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Comcast during the third quarter valued at $13,266,000. Morse Asset Management Inc acquired a new position in shares of Comcast in the 3rd quarter valued at $451,000. IHT Wealth Management LLC increased its stake in Comcast by 23.8% in the 3rd quarter. IHT Wealth Management LLC now owns 64,034 shares of the cable giant’s stock worth $2,674,000 after purchasing an additional 12,320 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in Comcast by 4.4% during the 3rd quarter. Ingalls & Snyder LLC now owns 33,283 shares of the cable giant’s stock worth $1,390,000 after buying an additional 1,410 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Barclays lifted their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. KeyCorp increased their target price on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen reduced their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Trading Up 0.8 %

Shares of NASDAQ CMCSA opened at $43.15 on Friday. The business has a 50 day simple moving average of $42.45 and a 200 day simple moving average of $40.26. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The stock has a market cap of $165.12 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.62 and a beta of 0.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. Comcast’s payout ratio is presently 33.33%.

Insider Buying and Selling

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.