Potomac Fund Management Inc. ADV Invests $1.47 Million in Comcast Co. (NASDAQ:CMCSA)

Potomac Fund Management Inc. ADV bought a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 39,092 shares of the cable giant’s stock, valued at approximately $1,467,000. Comcast accounts for 1.3% of Potomac Fund Management Inc. ADV’s holdings, making the stock its 17th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. May Hill Capital LLC acquired a new position in Comcast in the 4th quarter worth $274,000. Geode Capital Management LLC increased its position in shares of Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock worth $3,212,244,000 after acquiring an additional 1,006,272 shares during the last quarter. StoneX Group Inc. lifted its stake in shares of Comcast by 21.1% in the fourth quarter. StoneX Group Inc. now owns 48,916 shares of the cable giant’s stock worth $1,836,000 after acquiring an additional 8,530 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Comcast by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 24,725,355 shares of the cable giant’s stock valued at $927,943,000 after purchasing an additional 158,639 shares during the last quarter. Finally, Colrain Capital LLC acquired a new stake in Comcast during the 4th quarter valued at approximately $2,984,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the subject of several research analyst reports. UBS Group reduced their target price on Comcast from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Scotiabank downgraded shares of Comcast from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Bank of America cut shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $38.00 in a research report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price objective on Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.64.

Comcast Trading Down 0.5 %

Shares of NASDAQ:CMCSA opened at $36.72 on Wednesday. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market cap of $138.84 billion, a PE ratio of 8.85, a P/E/G ratio of 1.78 and a beta of 1.00. The company’s 50-day moving average price is $35.89 and its 200 day moving average price is $38.96.

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

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.59%. Comcast’s dividend payout ratio is presently 31.81%.

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.