Covington Capital Management increased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 30.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 145,199 shares of the cable giant’s stock after purchasing an additional 34,205 shares during the period. Covington Capital Management’s holdings in Comcast were worth $6,530,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the business. Wealthcare Capital Management LLC boosted its stake in shares of Comcast by 147.8% during the 4th quarter. Wealthcare Capital Management LLC now owns 555 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 331 shares in the last quarter. Islay Capital Management LLC bought a new stake in Comcast during the fourth quarter valued at approximately $28,000. Capital Wealth Alliance LLC bought a new stake in Comcast during the fourth quarter valued at approximately $30,000. Barnett & Company Inc. grew its position in Comcast by 427.9% during the fourth quarter. Barnett & Company Inc. now owns 681 shares of the cable giant’s stock valued at $31,000 after buying an additional 552 shares during the period. Finally, Ogorek Anthony Joseph NY ADV grew its position in Comcast by 103.6% during the fourth quarter. Ogorek Anthony Joseph NY ADV now owns 733 shares of the cable giant’s stock valued at $32,000 after buying an additional 373 shares during the period. Hedge funds and other institutional investors own 83.25% of the company’s stock.
In other Comcast news, CAO Daniel C. Murdock sold 1,038 shares of Comcast stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $36.55, for a total transaction of $37,938.90. Following the sale, the chief accounting officer now owns 4,229 shares of the company’s stock, valued at approximately $154,569.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David N. Watson sold 202,782 shares of Comcast stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.05, for a total value of $7,513,073.10. Following the transaction, the executive vice president now owns 893,424 shares in the company, valued at approximately $33,101,359.20. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.
Shares of NASDAQ CMCSA opened at $34.64 on Wednesday. The stock has a market capitalization of $155.58 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.98 and a beta of 0.96. Comcast Co. has a 12 month low of $31.70 and a 12 month high of $47.74. The firm’s 50 day simple moving average is $41.61 and its 200-day simple moving average is $44.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.84.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $28.40 billion for the quarter, compared to analysts’ expectations of $28.18 billion. Comcast had a net margin of 11.98% and a return on equity of 18.25%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Analysts anticipate that Comcast Co. will post 3.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.23 per share. This is a boost from Comcast’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, March 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. Comcast’s dividend payout ratio (DPR) is presently 26.84%.
Several equities analysts have recently commented on CMCSA shares. Wells Fargo & Co boosted their target price on shares of Comcast from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. KeyCorp reduced their target price on shares of Comcast from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Morgan Stanley restated a “buy” rating and issued a $53.00 price target on shares of Comcast in a report on Friday, January 24th. Moffett Nathanson upgraded shares of Comcast from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $52.00 in a report on Tuesday, February 4th. Finally, Raymond James cut shares of Comcast from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Comcast currently has a consensus rating of “Buy” and a consensus target price of $50.64.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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