MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 117,701 Shares of Comcast Co. (NASDAQ:CMCSA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 425.2% in the first quarter, Holdings Channel.com reports. The firm owned 145,381 shares of the cable giant’s stock after buying an additional 117,701 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Comcast were worth $6,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Steph & Co. increased its stake in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after buying an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC bought a new stake in Comcast during the fourth quarter worth $32,000. Financial Synergies Wealth Advisors Inc. grew its stake in Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 593 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Comcast during the 4th quarter valued at $34,000. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Macquarie reduced their price target on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Wells Fargo & Company dropped their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Finally, Evercore ISI dropped their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $48.53.

Comcast Price Performance

Shares of NASDAQ CMCSA traded down $0.01 during mid-day trading on Tuesday, reaching $38.16. 13,006,620 shares of the company were exchanged, compared to its average volume of 20,601,275. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The company’s 50 day moving average price is $38.67 and its 200 day moving average price is $41.32. The stock has a market capitalization of $149.73 billion, a PE ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Sell-side analysts forecast that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a $0.31 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.25%. Comcast’s dividend payout ratio (DPR) is 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by corporate insiders.

About Comcast

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.