Fayez Sarofim & Co Has $70.46 Million Stock Position in Comcast Co. (NASDAQ:CMCSA)

Fayez Sarofim & Co lowered its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,877,500 shares of the cable giant's stock after selling 868,299 shares during the period. Fayez Sarofim & Co's holdings in Comcast were worth $70,463,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Optivise Advisory Services LLC acquired a new stake in shares of Comcast in the 4th quarter valued at about $211,000. TD Waterhouse Canada Inc. grew its holdings in shares of Comcast by 3.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 78,715 shares of the cable giant's stock worth $2,954,000 after buying an additional 2,956 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Comcast by 133.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 382,187 shares of the cable giant's stock valued at $14,343,000 after buying an additional 218,444 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Comcast by 101.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,079 shares of the cable giant's stock valued at $116,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new position in Comcast during the 4th quarter worth approximately $4,226,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Citigroup cut their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday. Macquarie decreased their price objective on Comcast from $42.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, January 31st. KeyCorp dropped their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Sanford C. Bernstein set a $38.00 price target on Comcast in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.98.

Comcast Stock Performance

Comcast stock traded up $0.71 during midday trading on Friday, hitting $33.90. The company's stock had a trading volume of 29,362,656 shares, compared to its average volume of 21,915,255. 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 company has a market cap of $128.18 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.78 and a beta of 0.94. Comcast Co. has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a 50-day moving average price of $35.40 and a two-hundred day moving average price of $38.13.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, sell-side analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd were issued a dividend of $0.33 per share. 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 3.89%. The ex-dividend date was Wednesday, April 2nd. Comcast's dividend payout ratio is 31.81%.

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.