1832 Asset Management L.P. Raises Position in Comcast Co. (NASDAQ:CMCSA)

1832 Asset Management L.P. increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,345,767 shares of the cable giant’s stock after purchasing an additional 77,685 shares during the period. 1832 Asset Management L.P.’s holdings in Comcast were worth $58,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Luken Investment Analytics LLC lifted its position in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 418 shares during the period. Steph & Co. lifted its position in Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Comcast during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new stake in Comcast during the fourth quarter valued at approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its holdings in Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after buying an additional 593 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 3.8 %

Shares of Comcast stock traded up $1.45 during trading on Friday, hitting $39.69. The stock had a trading volume of 24,563,940 shares, compared to its average volume of 19,189,402. The firm’s fifty day simple moving average is $38.53 and its 200-day simple moving average is $40.65. The stock has a market cap of $155.73 billion, a PE ratio of 10.50, a PEG ratio of 1.01 and a beta of 1.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.59. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. As a group, sell-side analysts expect that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

Insider Buying and Selling at Comcast

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. The Goldman Sachs Group started coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Barclays reduced their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. Finally, Citigroup reduced their price objective on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.28.

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.