Comcast Corporation (NASDAQ:CMCSA) announced today that they are ahead of schedule on their rollout of their highly anticipated Giagabit internet service. The company, which plans to have the service available throughout the United States by 2018, has already launched the service to at least one user in Philadelphia, PA. Comcast Corporation (NASDAQ:CMCSA) says that they are also commencing tests in other parts of Pennsylvania, Atlanta and Nothern California.
While Google originally pushed the market towards gigabit access, Comcast seems to have the cost advantages of rolling the new high speed internet out to consumers, as they already have much of the required infrastructure in place. All that they need to do is upgrade their current networks to be able to function with DOCSIS 3.1 (“Data Over Cable Service Interface Specification”). The company is still on schedule for a national rollout within the next 24-36 months. The stock increased 0.23% or $0.13 on December 24, hitting $57.3. CMCSA has declined 0.98% since May 22, 2015 and is downtrending. It has outperformed the S&P500 by 2.08%.
From a total of 11 analysts covering Comcast Corporation (NASDAQ:CMCSA) stock, 7 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 64% of the ratings are positive. The highest target price is $80 while the lowest target price is $65. The mean of all analyst targets is $70.17 which is 22.46% above today’s ($57.3) stock price. Comcast Corporation was the topic of 18 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Pivotal Research maintained shares on December 17 with a “Buy” rating. MoffettNathanson upgraded shares to a”Neutral” rating and a $67 target share price in their report from an August 19. SunTrust initiated CMCSA stock in a recent report from November 11 with a “Neutral” rating. Finally, RBC Capital Markets maintained the stock with a “Outperform” rating in a report they issued on an October 28.
The institutional sentiment increased to 0.96 in Q2 2015. It’s up 0.04, from 0.92 in 2015Q2. The ratio improved, as 84 funds sold all their Comcast Corporation shares they owned while 451 reduced their positions. 92 funds bought stakes while 421 increased their total positions. Institutions now own 1.69 billion shares which is 0.34% less than the previous share count of 1.70 billion in 2015Q2.
Mediatel Partners holds 84.46% of its total portfolio in Comcast Corporation, equating to 2.91 million shares. Aristeia Capital Llc owns 5.97 million shares representing 17.29% of their total US portfolio. Moreover, Lansdowne Partners (Uk) Llp has 13.3% of their total portfolio invested in the company, equating to 27.75 million shares. The United Kingdom-based Nevsky Capital Llp has a total of 12.96% of their portfolio invested in the stock. Rit Capital Partners Plc, a United Kingdom-based fund reported 948,000 shares owned.
Since March 11, 2015, the stock had 0 insider buys, and 6 selling transactions for a total of $14.05 million in net activity. Salva Lawrence J sold 4,524 shares worth $260,130. Cohen David L sold 63,066 shares worth $3.53 million. Block Arthur R sold 2,258 shares worth $141,906. Smit Neil sold 30,732 shares worth $1.93 million. The insider Angelakis Michael J sold 382,566 shares worth $22.32 million.
Comcast Corporation is a media and technology company. The company has a market cap of $140.46 billion. The Firm has two primary businesses, Comcast Cable and NBCUniversal. It has 17.96 P/E ratio. The Company’s business line comprises five divisions: Cable Communications; Cable Networks; Broadcast Television; Filmed Entertainment, and Theme Parks.