Geode Capital Management LLC Has $3.53 Billion Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Geode Capital Management LLC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,805,867 shares of the cable giant’s stock after selling 985,513 shares during the quarter. Geode Capital Management LLC owned 2.22% of Comcast worth $3,529,888,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CMCSA. Parnassus Investments LLC raised its holdings in shares of Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in Comcast by 0.7% during the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after purchasing an additional 15,807 shares during the last quarter. Wulff Hansen & CO. grew its position in Comcast by 3,816.0% in the 2nd quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock worth $21,866,000 after purchasing an additional 544,123 shares in the last quarter. Darsana Capital Partners LP increased its stake in Comcast by 26.7% in the 2nd quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock valued at $372,020,000 after buying an additional 2,000,000 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Comcast in the 3rd quarter worth approximately $2,541,000. Institutional investors own 84.32% of the company’s stock.

Insider Activity at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction that occurred on 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 sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Stock Performance

NASDAQ:CMCSA opened at $39.05 on Tuesday. The company has a market capitalization of $149.43 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.63 and a beta of 0.99. The business has a 50 day moving average of $42.42 and a 200 day moving average of $40.31. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

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

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.18%. Comcast’s payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CMCSA shares. Pivotal Research lifted their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays boosted their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Company 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.