DAVENPORT & Co LLC Reduces Position in Comcast Co. (NASDAQ:CMCSA)

DAVENPORT & Co LLC lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSAFree Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,546,696 shares of the cable giant’s stock after selling 23,776 shares during the period. DAVENPORT & Co LLC owned about 0.06% of Comcast worth $111,845,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CMCSA. Norges Bank purchased a new position in shares of Comcast during the fourth quarter valued at approximately $1,798,173,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Comcast by 121,265.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock valued at $892,799,000 after purchasing an additional 25,509,390 shares during the period. Morgan Stanley boosted its holdings in shares of Comcast by 15.2% in the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock valued at $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Comcast by 62.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after purchasing an additional 5,880,050 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Comcast by 229.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,369,912 shares of the cable giant’s stock valued at $264,670,000 after purchasing an additional 4,437,276 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMCSA. Citigroup boosted their price target on Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Evercore ISI reissued an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a research note on Tuesday, March 26th. Pivotal Research boosted their price objective on shares of Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Comcast from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.68.

View Our Latest Stock Analysis on Comcast

Comcast Stock Performance

NASDAQ:CMCSA traded down $0.47 during mid-day trading on Tuesday, hitting $41.81. The company’s stock had a trading volume of 16,801,124 shares, compared to its average volume of 20,186,293. Comcast Co. has a 1 year low of $36.38 and a 1 year high of $47.46. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $166.06 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.00 and a beta of 0.98. The business’s fifty day moving average is $43.08 and its two-hundred day moving average is $43.16.

Comcast (NASDAQ:CMCSAGet Free Report) last posted its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The business had revenue of $31.25 billion for the quarter, compared to analyst estimates of $30.41 billion. Analysts anticipate that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be paid a dividend of $0.31 per share. This is a positive change from Comcast’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, April 2nd. Comcast’s dividend payout ratio is presently 31.18%.

Insider Activity at Comcast

In related news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.18% of the stock is currently owned by corporate insiders.

Comcast Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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