Summit Global Investments increased its holdings in Comcast Co. (NASDAQ:CMCSA - Free Report) by 112.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,310 shares of the cable giant's stock after acquiring an additional 20,272 shares during the quarter. Summit Global Investments' holdings in Comcast were worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant's stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in 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 worth $1,279,813,000 after purchasing an additional 2,270,186 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Comcast by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant's stock valued at $1,227,591,000 after buying an additional 838,366 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Comcast by 6.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant's stock valued at $1,268,310,000 after buying an additional 1,717,762 shares in the last quarter. Finally, Amundi grew its position in shares of Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant's stock worth $895,499,000 after buying an additional 14,369,056 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on CMCSA shares. Benchmark dropped their price objective on shares of Comcast from $57.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. StockNews.com raised Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Citigroup reduced their price objective on Comcast from $47.00 to $44.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Morgan Stanley dropped their target price on Comcast from $45.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, The Goldman Sachs Group reduced their price target on Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.64.
Check Out Our Latest Research Report on CMCSA
Comcast Stock Performance
Shares of NASDAQ CMCSA remained flat at $37.37 during midday trading on Thursday. The stock had a trading volume of 17,855,684 shares, compared to its average volume of 19,873,840. The stock has a market capitalization of $141.30 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 1.78 and a beta of 1.00. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average price of $35.87 and a 200-day moving average price of $39.02.
Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating 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%. Equities analysts forecast that Comcast Co. will post 4.33 earnings per share for the current fiscal year.
Comcast Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a $0.33 dividend. This is a boost from Comcast's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. Comcast's dividend payout ratio is presently 31.81%.
Comcast Company Profile
(
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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