Comcast Corporation (CMCSA) Stock Soars on Revenue Beat, Dividend Raise and Stock Buyback


Investors of Comcast Corporation (NASDAQ:CMCSA) are quite pleased today as the company reported better than expected fourth quarter revenue. The company reported revenue of $19.25 billion, which beat analysts’ expecations of just $18.76 billion by quite a large margin. Additionally Comcast reported that they added 89,000 new video subscribers which is the largest increase for a single quarter in about eight years. This compares to last years increase of just 6,000 subscribers.

Comcast Corporation (NASDAQ:CMCSA) also announced that they have earmarked $5 billion in stock buybacks for this year, as part of a larger $10 billion buyback program. In addition to this, the company announced that they will be using some of their additional earnings to increase their dividend payments by 10% to $1.10 per share.

The stock is up 5.20% or $2.84 following the news, hitting $57.43 per share. About 18.75M shares traded hands or up 50.36% from the average. CMCSA has declined 8.99% since June 29, 2015 and is currently downtrending. It has underperformed the S&P500 by 1.47%.

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 $61.0. The mean of all analyst targets is $69.07 which is 20.27% above today’s ($57.43) stock price. Comcast Corporation was the topic of 22 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on January 6 with a “Outperform” rating. RBC Capital Markets maintained shares with a”Outperform” rating and a $68 target share price in their report from an October 28. Pivotal Research maintained CMCSA stock in a recent report from December 17 with a “Buy” rating. MoffettNathanson upgraded the rating on August 19. MoffettNathanson has a “Neutral” rating and a $67 price target on shares. Finally, Suntrust Robinson initiated the stock with a “Neutral” rating in a report they issued on a November 11.

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 3 sales for a total of $7.67 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 $22.32M.

Comcast Corporation is a media and technology company. The company has a market cap of $135.54 billion. The Firm has two primary businesses, Comcast Cable and NBCUniversal. It has 18 P/E ratio. The Company’s business line comprises five divisions: Cable Communications; Cable Networks; Broadcast Television; Filmed Entertainment, and Theme Parks.