Hourglass Capital LLC Buys 54,060 Shares of Comcast Corporation $CMCSA

Hourglass Capital LLC raised its stake in Comcast Corporation (NASDAQ:CMCSA) by 90.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,140 shares of the cable giant’s stock after buying an additional 54,060 shares during the period. Hourglass Capital LLC’s holdings in Comcast were worth $3,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Cape Investment Advisory Inc. increased its holdings in Comcast by 2.6% during the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after purchasing an additional 307 shares during the period. Lakeshore Capital Group Inc. grew its stake in Comcast by 2.6% in the third quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock valued at $428,000 after purchasing an additional 343 shares during the last quarter. Hengehold Capital Management LLC raised its stake in shares of Comcast by 0.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant’s stock worth $2,601,000 after acquiring an additional 372 shares in the last quarter. Commonwealth Financial Services LLC lifted its position in Comcast by 4.6% during the third quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant’s stock valued at $265,000 after acquiring an additional 372 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in Comcast by 1.1% in the third quarter. Grove Bank & Trust now owns 35,919 shares of the cable giant’s stock valued at $1,129,000 after acquiring an additional 375 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays set a $28.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Benchmark lowered their price objective on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. TD Cowen dropped their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.76.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Comcast Trading Down 1.4%

NASDAQ CMCSA opened at $28.33 on Friday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.48. The company has a fifty day simple moving average of $30.31 and a two-hundred day simple moving average of $29.55. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $101.93 billion, a P/E ratio of 5.28, a P/E/G ratio of 2.26 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.