FORA Capital LLC Invests $8.78 Million in Comcast Co. (NASDAQ:CMCSA)

FORA Capital LLC acquired a new stake in Comcast Co. (NASDAQ:CMCSA) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 210,299 shares of the cable giant’s stock, valued at approximately $8,784,000. Comcast comprises 1.0% of FORA Capital LLC’s holdings, making the stock its 15th biggest position.

Several other hedge funds have also added to or reduced their stakes in CMCSA. FMR LLC raised its position in shares of Comcast by 5.4% during the third 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 raised its holdings in Comcast by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after purchasing an additional 1,000,626 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Comcast by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after purchasing an additional 416,759 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Comcast by 5.4% in 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 purchasing an additional 822,936 shares during the last quarter. Finally, First Pacific Advisors LP boosted its stake in shares of Comcast by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock valued at $423,633,000 after purchasing an additional 219,894 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CMCSA. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays raised their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their price target on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, TD Cowen reduced their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.19.

Comcast Stock Up 0.5 %

Shares of NASDAQ CMCSA traded up $0.23 during mid-day trading on Wednesday, reaching $42.87. 2,265,828 shares of the company’s stock traded hands, compared to its average volume of 19,548,633. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day simple moving average of $42.13 and a 200 day simple moving average of $40.11. The stock has a market cap of $164.04 billion, a P/E ratio of 11.46, a PEG ratio of 1.63 and a beta of 1.00. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts expect that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

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

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.