Comcast Co. (NASDAQ:CMCSA) Stake Reduced by F M Investments LLC

F M Investments LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 62.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,117 shares of the cable giant's stock after selling 118,615 shares during the quarter. F M Investments LLC's holdings in Comcast were worth $2,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CMCSA. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at $3,835,226,000. Raymond James Financial Inc. acquired a new position in Comcast in the 4th quarter worth $743,681,000. Amundi boosted its position in Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant's stock valued at $895,499,000 after buying an additional 14,369,056 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position 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 acquiring an additional 8,258,128 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Comcast by 11.5% during the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after buying an additional 4,669,069 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America downgraded shares of Comcast from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $50.00 to $38.00 in a research note on Friday, January 31st. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $37.00 to $31.00 in a research report on Monday. Loop Capital lowered their price objective on Comcast from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their target price on Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Finally, Rosenblatt Securities decreased their target price on Comcast from $45.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

Remove Ads

Comcast Stock Performance

NASDAQ CMCSA traded up $0.25 on Tuesday, hitting $34.40. The stock had a trading volume of 17,564,948 shares, compared to its average volume of 21,709,033. The company's 50-day moving average is $35.57 and its two-hundred day moving average is $38.49. Comcast Co. has a one year low of $32.20 and a one year high of $45.31. The stock has a market cap of $130.07 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 1.78 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 19.98% and a net margin of 13.09%. On average, analysts expect that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. This is a boost from Comcast's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Wednesday, April 2nd. Comcast's payout ratio is currently 31.81%.

Comcast 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.