Envestnet Asset Management Inc. cut its holdings in Comcast Co. (NASDAQ:CMCSA - Free Report) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,484,572 shares of the cable giant's stock after selling 1,511,002 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.20% of Comcast worth $280,896,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of Comcast during the fourth quarter valued at approximately $3,835,226,000. Raymond James Financial Inc. acquired a new position in Comcast in the 4th quarter valued at $743,681,000. Amundi lifted its stake in shares of Comcast by 147.9% during the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant's stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the period. Wilmington Savings Fund Society FSB boosted 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 last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Comcast by 7.1% in the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant's stock valued at $1,279,813,000 after purchasing an additional 2,270,186 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Citigroup reduced their target price on Comcast from $47.00 to $44.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Loop Capital dropped their price target on Comcast from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Rosenblatt Securities cut their price objective on Comcast from $45.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on Comcast from $45.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.90.
View Our Latest Stock Analysis on Comcast
Comcast Stock Down 0.3 %
NASDAQ CMCSA traded down $0.10 during mid-day trading on Friday, reaching $33.58. 10,023,219 shares of the company's stock traded hands, compared to its average volume of 21,683,089. 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 1-year low of $32.20 and a 1-year high of $45.31. The company has a fifty day simple moving average of $35.56 and a 200-day simple moving average of $38.61. The company has a market cap of $126.96 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 1.78 and a beta of 0.94.
Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research analysts expect 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. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This is a boost from Comcast's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.93%. Comcast's dividend payout ratio (DPR) is presently 31.81%.
Comcast Company Profile
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Free Report)
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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