Mission Wealth Management LP Increases Stake in Comcast Co. (NASDAQ:CMCSA)

Mission Wealth Management LP increased its holdings in Comcast Co. (NASDAQ:CMCSA) by 8.3% in the fourth quarter, Holdings Channel reports. The fund owned 43,509 shares of the cable giant’s stock after purchasing an additional 3,344 shares during the quarter. Mission Wealth Management LP’s holdings in Comcast were worth $1,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Comcast by 6.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock valued at $1,268,310,000 after purchasing an additional 1,717,762 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Comcast by 5.4% in the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock valued at $667,620,000 after purchasing an additional 822,936 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Comcast by 4.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after purchasing an additional 676,920 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $35.98 on Tuesday. The company has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $39.45. The stock has a market cap of $136.04 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.78 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12 month low of $32.50 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.67%. This is a positive change from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. Comcast’s dividend payout ratio (DPR) is 31.81%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a report on Friday, January 31st. Rosenblatt Securities reduced their price target on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Macquarie lowered their price objective on Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.83.

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.