Investment Management Corp of Ontario Sells 400,795 Shares of Comcast Co. (NASDAQ:CMCSA)

Investment Management Corp of Ontario trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA) by 74.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,752 shares of the cable giant’s stock after selling 400,795 shares during the quarter. Investment Management Corp of Ontario’s holdings in Comcast were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comcast by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after purchasing an additional 1,000,626 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after buying an additional 1,717,762 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Comcast by 5.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock valued at $667,620,000 after buying an additional 822,936 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Comcast

In other news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CMCSA shares. Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Comcast in a research report on Tuesday, November 19th. TD Cowen dropped their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Trading Down 1.0 %

CMCSA opened at $42.86 on Wednesday. The stock has a 50-day moving average of $42.37 and a 200 day moving average of $40.23. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The firm has a market cap of $164.01 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.64 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Comcast Co. will post 4.26 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.89%. Comcast’s payout ratio is 33.33%.

Comcast Profile

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.