Beese Fulmer Investment Management Inc. Sells 7,780 Shares of Comcast Co. (NASDAQ:CMCSA)

Beese Fulmer Investment Management Inc. cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 289,309 shares of the cable giant’s stock after selling 7,780 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Comcast were worth $10,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairvoy Private Wealth LLC bought a new stake in shares of Comcast in the 4th quarter valued at about $2,629,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Comcast by 5.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 481,179 shares of the cable giant’s stock valued at $18,059,000 after purchasing an additional 24,349 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Comcast during the fourth quarter worth $1,654,000. Hedeker Wealth LLC grew its holdings in shares of Comcast by 0.6% in the 4th quarter. Hedeker Wealth LLC now owns 100,866 shares of the cable giant’s stock valued at $3,786,000 after buying an additional 650 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in shares of Comcast by 7.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 125,463 shares of the cable giant’s stock valued at $4,709,000 after buying an additional 8,616 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CMCSA shares. TD Cowen decreased their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. KeyCorp boosted their price objective on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America downgraded shares of Comcast from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $38.00 in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.13.

Insider Buying and Selling at Comcast

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’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 directly owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % 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.

Comcast Stock Up 1.6 %

Shares of CMCSA stock opened at $34.47 on Friday. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The stock has a market cap of $131.90 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.23 and a beta of 1.00. The firm’s 50-day moving average is $38.05 and its 200-day moving average is $39.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.72 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Sell-side analysts predict that Comcast Co. will post 4.4 EPS for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.83%. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s payout ratio is 29.88%.

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.