1832 Asset Management L.P. Increases Stock Position in Comcast Co. (NASDAQ:CMCSA)

1832 Asset Management L.P. lifted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 6.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,345,767 shares of the cable giant’s stock after purchasing an additional 77,685 shares during the quarter. 1832 Asset Management L.P.’s holdings in Comcast were worth $58,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC lifted its holdings in shares of Comcast by 4.8% during the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after purchasing an additional 2,781 shares during the period. Everett Harris & Co. CA lifted its holdings in shares of Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. lifted its holdings in shares of Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after purchasing an additional 1,486 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Comcast during the fourth quarter worth $2,056,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Comcast by 10.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after purchasing an additional 10,936 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CMCSA shares. Scotiabank decreased their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company reduced their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a report on Tuesday, June 11th. Barclays reduced their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Evercore ISI reduced their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $47.28.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast 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 owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by company insiders.

Comcast Price Performance

Shares of CMCSA stock traded up $1.45 during mid-day trading on Friday, reaching $39.69. The stock had a trading volume of 24,563,940 shares, compared to its average volume of 19,189,402. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The company has a market cap of $155.73 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. The business has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $40.65. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. On average, sell-side analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

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.