Comcast Corporation (CMCSA) Increases Dividend to $0.16 Per Share

Comcast Corporation (CMCSA) Increases Dividend to $0.16 Per Share

Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend on Friday, January 27th. Shareholders of record on Wednesday, April 5th will be paid a dividend of 0.1575 per share by the cable giant on Wednesday, April 26th. This represents a $0.63 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Monday, April 3rd. This is a boost from Comcast Corporation’s previous quarterly dividend of $0.14.

Shares of Comcast Corporation (NASDAQ:CMCSA) opened at 75.95 on Monday. The firm has a 50-day moving average price of $71.28 and a 200-day moving average price of $67.42. The company has a market capitalization of $183.04 billion, a P/E ratio of 21.30 and a beta of 1.11. Comcast Corporation has a one year low of $54.38 and a one year high of $76.87.

Comcast Corporation (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 26th. The cable giant reported $0.89 EPS for the quarter, beating the consensus estimate of $0.87 by $0.02. The firm had revenue of $21 billion for the quarter, compared to analyst estimates of $20.67 billion. Comcast Corporation had a return on equity of 15.37% and a net margin of 10.81%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. Equities analysts forecast that Comcast Corporation will post $3.75 earnings per share for the current year.

In other Comcast Corporation news, EVP Arthur R. Block sold 2,435 shares of Comcast Corporation stock in a transaction on Monday, December 19th. The stock was sold at an average price of $70.17, for a total value of $170,863.95. Following the completion of the sale, the executive vice president now owns 50,712 shares of the company’s stock, valued at approximately $3,558,461.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur R. Block sold 1,680 shares of Comcast Corporation stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $70.80, for a total value of $118,944.00. Following the completion of the sale, the executive vice president now directly owns 47,853 shares of the company’s stock, valued at approximately $3,387,992.40. The disclosure for this sale can be found here. In the last three months, insiders sold 28,488 shares of company stock valued at $1,988,731. Corporate insiders own 1.27% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Balentine LLC raised its stake in Comcast Corporation by 68.8% in the third quarter. Balentine LLC now owns 6,218 shares of the cable giant’s stock worth $413,000 after buying an additional 2,534 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Comcast Corporation by 9.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 22,437 shares of the cable giant’s stock valued at $1,486,000 after buying an additional 1,913 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Comcast Corporation by 28.3% in the third quarter. Verition Fund Management LLC now owns 10,262 shares of the cable giant’s stock valued at $681,000 after buying an additional 2,262 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Comcast Corporation by 50.2% in the third quarter. Candriam Luxembourg S.C.A. now owns 195,004 shares of the cable giant’s stock valued at $12,937,000 after buying an additional 65,137 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Comcast Corporation during the third quarter valued at approximately $2,001,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on CMCSA. Jefferies Group LLC increased their target price on Comcast Corporation to $86.00 in a report on Friday. Deutsche Bank AG upgraded Comcast Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $88.00 in a report on Friday, January 13th. Instinet increased their target price on Comcast Corporation to $85.00 in a report on Friday. Macquarie upgraded Comcast Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $69.00 to $77.00 in a report on Monday, October 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 target price (up from $76.00) on shares of Comcast Corporation in a report on Thursday, January 5th. Twenty-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.76.

Comcast Corporation Company Profile

Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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