Beach Point Capital Management LP Has $14.28 Million Stake in Comcast Co. (CMCSA)
Beach Point Capital Management LP trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,431 shares of the cable giant’s stock after selling 64,441 shares during the period. Comcast makes up 3.4% of Beach Point Capital Management LP’s investment portfolio, making the stock its 12th largest holding. Beach Point Capital Management LP’s holdings in Comcast were worth $14,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sky Investment Group LLC grew its position in Comcast by 7.3% during the 4th quarter. Sky Investment Group LLC now owns 37,132 shares of the cable giant’s stock worth $1,487,000 after purchasing an additional 2,536 shares during the last quarter. Convergence Investment Partners LLC grew its position in Comcast by 32.1% during the 4th quarter. Convergence Investment Partners LLC now owns 104,969 shares of the cable giant’s stock worth $4,204,000 after purchasing an additional 25,508 shares during the last quarter. Elkhorn Investments LLC grew its position in Comcast by 10.4% during the 2nd quarter. Elkhorn Investments LLC now owns 34,702 shares of the cable giant’s stock worth $1,374,000 after purchasing an additional 3,273 shares during the last quarter. Swiss National Bank grew its position in Comcast by 0.9% during the 3rd quarter. Swiss National Bank now owns 18,023,300 shares of the cable giant’s stock worth $693,537,000 after purchasing an additional 162,000 shares during the last quarter. Finally, Brightworth purchased a new position in Comcast during the 3rd quarter worth $451,000. 83.44% of the stock is currently owned by hedge funds and other institutional investors.
Comcast stock opened at $34.49 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.86. The stock has a market cap of $163,951.09, a PE ratio of 7.23, a price-to-earnings-growth ratio of 1.28 and a beta of 1.16. Comcast Co. has a 52-week low of $34.45 and a 52-week high of $44.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.20%. Comcast’s payout ratio is 13.21%.
In related news, EVP Arthur R. Block sold 3,937 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares in the company, valued at $2,678,726.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Daniel C. Murdock sold 1,891 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $35.60, for a total transaction of $67,319.60. Following the sale, the senior vice president now owns 2,585 shares of the company’s stock, valued at $92,026. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,379,960 shares of company stock valued at $51,725,889. Insiders own 1.28% of the company’s stock.
Several analysts have recently commented on CMCSA shares. TD Securities raised their target price on shares of Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Nomura restated a “neutral” rating and issued a $42.00 target price (down previously from $45.00) on shares of Comcast in a research note on Thursday, January 18th. Buckingham Research raised their price objective on shares of Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 8th. BidaskClub upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, Pivotal Research reiterated a “buy” rating and issued a $52.00 price objective on shares of Comcast in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Comcast has a consensus rating of “Buy” and a consensus price target of $50.39.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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