Connor Clark & Lunn Investment Management Ltd. Invests $10 Million in Comcast Co. (NASDAQ:CMCSA)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 239,473 shares of the cable giant's stock, valued at approximately $10,003,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategy Asset Managers LLC raised its stake in shares of Comcast by 52.9% in the 3rd quarter. Strategy Asset Managers LLC now owns 9,122 shares of the cable giant's stock valued at $381,000 after acquiring an additional 3,155 shares in the last quarter. Prospera Private Wealth LLC grew its stake in Comcast by 12.1% in the 3rd quarter. Prospera Private Wealth LLC now owns 11,507 shares of the cable giant's stock valued at $481,000 after buying an additional 1,243 shares during the last quarter. West Family Investments Inc. raised its holdings in Comcast by 9.0% in the 3rd quarter. West Family Investments Inc. now owns 16,480 shares of the cable giant's stock worth $688,000 after acquiring an additional 1,358 shares during the period. Parnassus Investments LLC lifted its position in Comcast by 3.7% during the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant's stock worth $80,232,000 after acquiring an additional 68,139 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Comcast during the third quarter valued at about $13,788,000. Institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Comcast from $43.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Macquarie increased their price objective on Comcast from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday. Rosenblatt Securities reaffirmed a "neutral" rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday, November 6th. StockNews.com cut shares of Comcast from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 24th. Finally, Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of Comcast in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.19.

Comcast Price Performance

Comcast stock traded down $0.03 on Friday, reaching $43.47. The company's stock had a trading volume of 10,479,769 shares, compared to its average volume of 19,614,006. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $166.34 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.60 and a beta of 1.00. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The business's fifty day moving average price is $41.90 and its 200 day moving average price is $40.00.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analysts' expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Comcast's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. Equities analysts expect that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast's dividend payout ratio (DPR) is presently 33.33%.

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.