Diversified Portfolios Inc. trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,017 shares of the cable giant’s stock after selling 2,963 shares during the period. Diversified Portfolios Inc.’s holdings in Comcast were worth $175,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Kolinsky Wealth Management LLC grew its position in Comcast by 2.2% during the 2nd quarter. Kolinsky Wealth Management LLC now owns 13,749 shares of the cable giant’s stock worth $540,000 after purchasing an additional 291 shares during the period. McLean Asset Management Corp grew its position in shares of Comcast by 2.6% during the 4th quarter. McLean Asset Management Corp now owns 11,389 shares of the cable giant’s stock valued at $398,000 after acquiring an additional 293 shares during the period. Kovack Advisors Inc. grew its position in shares of Comcast by 1.2% during the 3rd quarter. Kovack Advisors Inc. now owns 25,912 shares of the cable giant’s stock valued at $760,000 after acquiring an additional 308 shares during the period. Signet Investment Advisory Group Inc. grew its position in shares of Comcast by 1.2% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 26,331 shares of the cable giant’s stock valued at $921,000 after acquiring an additional 316 shares during the period. Finally, Beach Investment Counsel Inc. PA grew its position in shares of Comcast by 2.5% during the 3rd quarter. Beach Investment Counsel Inc. PA now owns 13,036 shares of the cable giant’s stock valued at $382,000 after acquiring an additional 319 shares during the period. 82.23% of the stock is owned by institutional investors and hedge funds.
Comcast Stock Performance
Shares of CMCSA opened at $37.91 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $159.83 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 0.81 and a beta of 1.00. The company’s 50 day simple moving average is $37.81 and its 200 day simple moving average is $35.19. Comcast Co. has a 1 year low of $28.39 and a 1 year high of $48.42.
Comcast (NASDAQ:CMCSA – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The cable giant reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $30.55 billion for the quarter, compared to the consensus estimate of $30.36 billion. Comcast had a net margin of 4.42% and a return on equity of 18.40%. Comcast’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, sell-side analysts predict that Comcast Co. will post 3.64 EPS for the current year.
Comcast Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. This is a positive change from Comcast’s previous quarterly dividend of $0.27. Comcast’s dividend payout ratio is presently 90.76%.
Insider Activity at Comcast
In related news, major shareholder Corp Comcast sold 1,610,496 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $2.38, for a total transaction of $3,832,980.48. Following the completion of the sale, the insider now directly owns 25,153,615 shares of the company’s stock, valued at approximately $59,865,603.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 7,527,791 shares of company stock valued at $19,025,007. Corporate insiders own 1.11% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CMCSA. Barclays raised their target price on Comcast from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, February 2nd. JPMorgan Chase & Co. raised their price target on shares of Comcast from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Rosenblatt Securities raised their price target on shares of Comcast from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Pivotal Research raised their target price on shares of Comcast from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. Finally, Cowen decreased their target price on shares of Comcast from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.29.
Comcast Profile
Comcast Corp. engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand.
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