Investors Buy Comcast Corporation (NASDAQ:CMCSA) on Weakness

Traders purchased shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading hours on Wednesday. $164.36 million flowed into the stock on the tick-up and $108.15 million flowed out of the stock on the tick-down, for a money net flow of $56.21 million into the stock. Of all stocks tracked, Comcast Corporation had the 8th highest net in-flow for the day. Comcast Corporation traded down ($0.33) for the day and closed at $40.01

A number of research analysts recently weighed in on CMCSA shares. SunTrust Banks, Inc. started coverage on Comcast Corporation in a research note on Tuesday, April 18th. They issued a “buy” rating and a $45.00 price objective on the stock. Macquarie reaffirmed a “buy” rating and issued a $45.00 price target on shares of Comcast Corporation in a research report on Thursday, April 27th. Telsey Advisory Group lifted their price target on Comcast Corporation from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Wunderlich lifted their price target on Comcast Corporation from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $47.00 price target (up from $44.00) on shares of Comcast Corporation in a research report on Saturday, April 29th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Comcast Corporation presently has an average rating of “Buy” and a consensus price target of $45.69.

The stock’s 50-day moving average is $39.47 and its 200 day moving average is $38.77. The firm has a market capitalization of $193.77 billion, a PE ratio of 20.71 and a beta of 1.01.

Comcast Corporation (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The firm had revenue of $21.17 billion for the quarter, compared to the consensus estimate of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Analysts expect that Comcast Corporation will post $2.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio is presently 31.74%.

In related news, Director Kenneth J. Bacon sold 7,500 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the sale, the director now owns 26,812 shares of the company’s stock, valued at approximately $1,085,886. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Daniel C. Murdock sold 3,659 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the sale, the senior vice president now directly owns 725 shares in the company, valued at approximately $28,717.25. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMCSA. Patriot Financial Group Insurance Agency LLC raised its position in shares of Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after buying an additional 1,340 shares in the last quarter. OLD Second National Bank of Aurora raised its position in shares of Comcast Corporation by 56.5% in the first quarter. OLD Second National Bank of Aurora now owns 2,696 shares of the cable giant’s stock valued at $101,000 after buying an additional 973 shares in the last quarter. Zions Bancorporation raised its position in shares of Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after buying an additional 410 shares in the last quarter. Orrstown Financial Services Inc. raised its position in shares of Comcast Corporation by 159.3% in the first quarter. Orrstown Financial Services Inc. now owns 2,860 shares of the cable giant’s stock valued at $108,000 after buying an additional 1,757 shares in the last quarter. Finally, CT Financial Advisors LLC raised its position in Comcast Corporation by 109.4% in the first quarter. CT Financial Advisors LLC now owns 2,894 shares of the cable giant’s stock valued at $109,000 after buying an additional 1,512 shares during the period. 82.32% of the stock is owned by institutional investors and hedge funds.

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About Comcast Corporation

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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