Watch Point Trust Co grew its stake in Comcast Co. (NASDAQ:CMCSA) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,919 shares of the cable giant’s stock after buying an additional 12,502 shares during the period. Comcast makes up approximately 2.5% of Watch Point Trust Co’s holdings, making the stock its 9th biggest position. Watch Point Trust Co’s holdings in Comcast were worth $4,478,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in CMCSA. Clean Yield Group acquired a new position in shares of Comcast during the 1st quarter worth about $25,000. Evolution Wealth Advisors LLC acquired a new position in shares of Comcast during the 2nd quarter worth about $26,000. Mackey Komara & Dankovich LLC acquired a new position in shares of Comcast during the 1st quarter worth about $27,000. Bray Capital Advisors acquired a new position in shares of Comcast during the 2nd quarter worth about $30,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Comcast during the 2nd quarter worth about $31,000. 82.66% of the stock is owned by institutional investors.
In other news, SVP Daniel C. Murdock sold 1,701 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $41.46, for a total value of $70,523.46. Following the sale, the senior vice president now directly owns 4,712 shares in the company, valued at approximately $195,359.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.35% of the company’s stock.
Several research firms recently weighed in on CMCSA. Pivotal Research reissued a “buy” rating and set a $54.00 price objective on shares of Comcast in a research report on Wednesday, June 26th. ValuEngine cut Comcast from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Guggenheim raised Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective for the company in a research report on Thursday, May 30th. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, TD Securities boosted their price objective on Comcast from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.44.
CMCSA remained flat at $$42.37 on Thursday. The company had a trading volume of 5,434,042 shares, compared to its average volume of 17,327,420. Comcast Co. has a 1 year low of $32.61 and a 1 year high of $45.29. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. The stock has a market cap of $192.71 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The firm has a 50 day simple moving average of $43.39.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities analysts forecast that Comcast Co. will post 3.07 earnings per share for the current year.
Comcast Company Profile
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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