Northeast Investment Management Has $670,000 Position in Comcast Co. (NASDAQ:CMCSA)

Northeast Investment Management reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 5.6% in the 1st quarter, Holdings Channel reports. The firm owned 18,165 shares of the cable giant’s stock after selling 1,083 shares during the period. Northeast Investment Management’s holdings in Comcast were worth $670,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Comcast during the fourth quarter worth approximately $3,835,226,000. Raymond James Financial Inc. acquired a new position in shares of Comcast during the fourth quarter worth approximately $743,681,000. Amundi lifted its holdings in shares of Comcast by 147.9% during the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after buying an additional 14,369,056 shares during the last quarter. Capital World Investors raised its stake in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $35.62 on Wednesday. The business’s 50-day simple moving average is $34.35 and its 200 day simple moving average is $36.26. The stock has a market cap of $132.99 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 1.78 and a beta of 0.95. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. As a group, research analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.71%. The ex-dividend date is Wednesday, July 2nd. Comcast’s payout ratio is 32.43%.

Analysts Set New Price Targets

A number of research analysts recently commented on CMCSA shares. Oppenheimer cut their target price on Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Morgan Stanley set a $37.00 target price on shares of Comcast in a research note on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Finally, UBS Group set a $44.50 target price on shares of Comcast in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.10.

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.