Redwood Investment Management LLC Lowers Stock Position in Comcast Co. (NASDAQ:CMCSA)

Redwood Investment Management LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 10.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 158,913 shares of the cable giant’s stock after selling 18,839 shares during the period. Comcast comprises 0.6% of Redwood Investment Management LLC’s holdings, making the stock its 22nd biggest position. Redwood Investment Management LLC’s holdings in Comcast were worth $6,619,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Duncan Williams Asset Management LLC increased its stake in Comcast by 7.4% during the 2nd quarter. Duncan Williams Asset Management LLC now owns 18,709 shares of the cable giant’s stock valued at $733,000 after purchasing an additional 1,295 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Comcast by 2.4% in the 2nd quarter. Dixon Mitchell Investment Counsel Inc. now owns 685,542 shares of the cable giant’s stock valued at $27,119,000 after acquiring an additional 16,149 shares during the last quarter. City Holding Co. boosted its holdings in shares of Comcast by 3.7% in the 2nd quarter. City Holding Co. now owns 9,000 shares of the cable giant’s stock valued at $352,000 after acquiring an additional 319 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Comcast by 4.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its holdings in shares of Comcast by 12.2% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 6,869 shares of the cable giant’s stock valued at $269,000 after acquiring an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Macquarie increased their price objective on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average target price of $47.19.

Insider Buying and Selling

In other news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the transaction, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $42.55 on Thursday. The firm has a market capitalization of $162.82 billion, a P/E ratio of 11.44, a PEG ratio of 1.64 and a beta of 0.99. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The company’s fifty day moving average is $42.41 and its two-hundred day moving average is $40.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts forecast that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors 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 annualized dividend and a dividend yield of 2.91%. Comcast’s dividend payout ratio is presently 33.33%.

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.