CIBC Asset Management Inc Grows Stake in Comcast Co. (NASDAQ:CMCSA)

CIBC Asset Management Inc lifted its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,322,639 shares of the cable giant's stock after acquiring an additional 18,251 shares during the quarter. CIBC Asset Management Inc's holdings in Comcast were worth $49,639,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB grew its position in Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant's stock valued at $345,565,000 after buying an additional 8,258,128 shares during the period. FMR LLC grew its position in Comcast by 5.4% during the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant's stock valued at $4,904,647,000 after buying an additional 6,062,658 shares during the period. Public Sector Pension Investment Board grew its position in Comcast by 530.5% during the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant's stock valued at $143,242,000 after buying an additional 2,885,370 shares during the period. National Bank of Canada FI grew its position in Comcast by 31.7% during the third quarter. National Bank of Canada FI now owns 7,613,977 shares of the cable giant's stock valued at $318,036,000 after buying an additional 1,833,453 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Comcast by 6.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant's stock valued at $1,268,310,000 after buying an additional 1,717,762 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

NASDAQ CMCSA traded down $0.07 during trading on Thursday, reaching $36.41. The company's stock had a trading volume of 25,850,058 shares, compared to its average volume of 26,923,492. The stock has a market capitalization of $137.67 billion, a PE ratio of 8.77, a P/E/G ratio of 1.78 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a fifty day moving average of $36.73 and a 200 day moving average of $39.62. Comcast Co. has a one year low of $32.50 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Analysts expect that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 2nd. This is a positive change from Comcast's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.63%. Comcast's dividend payout ratio is 29.88%.

Insider Activity

In related news, CEO Brian L. Roberts sold 234,464 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Comcast from $45.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Pivotal Research raised their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 1st. KeyCorp boosted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Bank of America lowered Comcast from a "buy" rating to a "neutral" rating and cut their price target for the stock from $50.00 to $38.00 in a report on Friday, January 31st. Finally, Citigroup decreased their price objective on Comcast from $47.00 to $44.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Comcast presently has an average rating of "Moderate Buy" and a consensus price target of $44.13.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.