Code Waechter LLC Invests $254,000 in Comcast Co. (NASDAQ:CMCSA)

Code Waechter LLC bought a new stake in Comcast Co. (NASDAQ:CMCSA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,089 shares of the cable giant’s stock, valued at approximately $254,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its holdings in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Capital World Investors boosted its stake in shares of Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after buying an additional 4,714,586 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after acquiring an additional 4,182,525 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Comcast stock traded up $0.16 on Friday, hitting $41.26. The company’s stock had a trading volume of 10,447,759 shares, compared to its average volume of 19,735,881. The firm has a market cap of $159.78 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a fifty day moving average price of $39.99 and a 200-day moving average price of $39.50. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.01%. Comcast’s dividend payout ratio (DPR) is presently 32.98%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Evercore ISI lowered their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Finally, Pivotal Research decreased their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.55.

About Comcast

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.