Palumbo Wealth Management LLC Raises Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Palumbo Wealth Management LLC boosted its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 263.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,790 shares of the cable giant's stock after purchasing an additional 33,181 shares during the quarter. Palumbo Wealth Management LLC's holdings in Comcast were worth $1,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC increased its holdings in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant's stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Comcast during the fourth quarter valued at about $27,000. Wingate Wealth Advisors Inc. purchased a new stake in Comcast in the fourth quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant's stock valued at $30,000 after buying an additional 570 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Comcast in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CMCSA shares. Citigroup dropped their target price on Comcast from $47.00 to $44.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Scotiabank lowered Comcast from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $48.00 to $44.50 in a research report on Monday, February 3rd. Macquarie lowered their price objective on Comcast from $42.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities lowered their price objective on Comcast from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Finally, BNP Paribas upgraded Comcast from an "underperform" rating to a "neutral" rating and set a $35.00 price objective on the stock in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $44.13.

Insider Activity at Comcast

In other news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated 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 completion of the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company's stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Comcast Trading Up 0.4 %

Shares of NASDAQ CMCSA traded up $0.14 during mid-day trading on Wednesday, reaching $36.49. 7,147,374 shares of the company's stock were exchanged, compared to its average volume of 26,451,355. The firm has a market capitalization of $137.95 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.73 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The company's 50-day moving average is $36.79 and its 200-day moving average is $39.64.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly 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 announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.62%. This is a boost from Comcast's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. Comcast's dividend payout ratio (DPR) is 29.88%.

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.