Coastline Trust Co Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

Coastline Trust Co lowered its position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 45.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,787 shares of the cable giant's stock after selling 27,518 shares during the period. Coastline Trust Co's holdings in Comcast were worth $1,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Comcast in the 4th quarter valued at $3,835,226,000. Raymond James Financial Inc. purchased a new position in shares of Comcast in the 4th quarter valued at approximately $743,681,000. Amundi increased its holdings in shares of Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant's stock valued at $895,499,000 after purchasing an additional 14,369,056 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of 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 worth $345,565,000 after purchasing an additional 8,258,128 shares during the period. Finally, Dodge & Cox grew its position in Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after buying an additional 5,039,823 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock opened at $33.96 on Friday. The stock has a 50-day moving average price of $35.51 and a two-hundred day moving average price of $38.32. The company has a market cap of $128.40 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $32.20 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, research analysts predict that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a $0.33 dividend. This is an increase from Comcast's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast's dividend payout ratio is currently 31.81%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. KeyCorp dropped their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Sanford C. Bernstein set a $38.00 price objective on shares of Comcast in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

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.

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