Mount Lucas Management LP Has $815,000 Holdings in Comcast Co. (NASDAQ:CMCSA)

Mount Lucas Management LP trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 59.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,503 shares of the cable giant’s stock after selling 29,020 shares during the period. Mount Lucas Management LP’s holdings in Comcast were worth $815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Fairscale Capital LLC bought a new position in Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in shares of Comcast during the second quarter worth approximately $27,000. IAG Wealth Partners LLC lifted its holdings in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its stake in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the period. Finally, Archer Investment Corp grew its holdings in Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after buying an additional 519 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Comcast in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday, November 6th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Macquarie reiterated a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Comcast Price Performance

Shares of CMCSA stock opened at $42.88 on Friday. The business has a fifty day simple moving average of $41.61 and a 200 day simple moving average of $39.88. The company has a market cap of $164.08 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.89%. Comcast’s dividend payout ratio is currently 33.33%.

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.