Wealthspire Advisors LLC Raises Stock Position in Comcast Co. (NASDAQ:CMCSA)

Wealthspire Advisors LLC lifted its position in Comcast Co. (NASDAQ:CMCSA) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,728 shares of the cable giant’s stock after buying an additional 14,696 shares during the period. Wealthspire Advisors LLC’s holdings in Comcast were worth $2,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. World Investment Advisors LLC grew its position in Comcast by 904.0% during the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares during the last quarter. Bfsg LLC grew its position in Comcast by 752.8% during the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after purchasing an additional 73,590 shares during the last quarter. Robinson Value Management Ltd. grew its position in Comcast by 136.7% during the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock worth $3,842,000 after purchasing an additional 59,107 shares during the last quarter. Tidal Investments LLC grew its position in Comcast by 15.2% during the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after purchasing an additional 22,684 shares during the last quarter. Finally, Private Management Group Inc. grew its position in Comcast by 3.0% during the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock worth $32,118,000 after purchasing an additional 24,827 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $36.26 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The company has a fifty day moving average of $36.58 and a two-hundred day moving average of $39.59. The stock has a market capitalization of $137.08 billion, a PE ratio of 8.74, a P/E/G ratio of 1.78 and a beta of 1.00. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, research analysts forecast that Comcast Co. will post 4.33 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 3.64%. Comcast’s dividend payout ratio is currently 31.81%.

Insider Transactions at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction 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. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Pivotal Research boosted their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Rosenblatt Securities decreased their price objective on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

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.