Cadence Bank Acquires 2,335 Shares of Comcast Co. (NASDAQ:CMCSA)

Cadence Bank lifted its holdings in Comcast Co. (NASDAQ:CMCSA) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,607 shares of the cable giant’s stock after purchasing an additional 2,335 shares during the period. Cadence Bank’s holdings in Comcast were worth $6,792,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Shum Financial Group Inc. bought a new position in shares of Comcast in the third quarter worth about $392,000. Avestar Capital LLC lifted its holdings in shares of Comcast by 16.6% during the third quarter. Avestar Capital LLC now owns 37,861 shares of the cable giant’s stock worth $1,581,000 after buying an additional 5,396 shares during the last quarter. FMR LLC boosted its position in shares of Comcast by 5.4% in the third 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. The Manufacturers Life Insurance Company increased its position in Comcast by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 4,558,230 shares of the cable giant’s stock worth $190,397,000 after acquiring an additional 219,976 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in Comcast in the 3rd quarter valued at $5,403,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Down 1.3 %

Shares of CMCSA opened at $42.64 on Wednesday. The firm has a market capitalization of $163.16 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.63 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The business’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $40.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period in the prior year, the company posted $1.08 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. Comcast’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Macquarie increased their target price on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. TD Cowen lowered their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Pivotal Research raised their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.19.

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.