Parnassus Investments LLC Has $80.23 Million Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Parnassus Investments LLC raised its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,920,800 shares of the cable giant's stock after acquiring an additional 68,139 shares during the period. Parnassus Investments LLC's holdings in Comcast were worth $80,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fairscale Capital LLC purchased a new position in shares of Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in Comcast in the second quarter valued at about $27,000. IAG Wealth Partners LLC lifted its position in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant's stock valued at $30,000 after acquiring an additional 522 shares during the period. McClarren Financial Advisors Inc. boosted its stake in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant's stock worth $30,000 after acquiring an additional 570 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant's stock worth $32,000 after acquiring an additional 519 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Cowen cut their target price on shares of Comcast from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price target on Comcast from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a "neutral" rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. StockNews.com cut Comcast from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price target on Comcast from $43.00 to $46.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.19.

Comcast Price Performance

CMCSA stock traded down $0.68 on Tuesday, hitting $42.32. 21,731,300 shares of the company's stock traded hands, compared to its average volume of 19,630,316. The stock has a market cap of $161.94 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.63 and a beta of 1.00. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average of $41.67 and a 200-day moving average of $39.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. On average, analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast's dividend payout ratio (DPR) is currently 33.33%.

About Comcast

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.