Mystic Asset Management Inc. Acquires New Shares in Comcast Co. (NASDAQ:CMCSA)

Mystic Asset Management Inc. purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 7,213 shares of the cable giant’s stock, valued at approximately $271,000.

A number of other hedge funds have also recently made changes to their positions in the company. Argent Advisors Inc. grew its position in shares of Comcast by 4.5% during the 4th quarter. Argent Advisors Inc. now owns 40,426 shares of the cable giant’s stock valued at $1,517,000 after purchasing an additional 1,746 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in Comcast by 2.5% in the fourth quarter. Tocqueville Asset Management L.P. now owns 402,561 shares of the cable giant’s stock worth $15,108,000 after acquiring an additional 9,662 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in Comcast in the fourth quarter worth $60,000. Cibc World Markets Corp grew its position in Comcast by 11.7% in the fourth quarter. Cibc World Markets Corp now owns 1,153,957 shares of the cable giant’s stock worth $43,308,000 after acquiring an additional 121,113 shares in the last quarter. Finally, Nicholas Company Inc. grew its position in Comcast by 41.4% in the fourth quarter. Nicholas Company Inc. now owns 184,153 shares of the cable giant’s stock worth $6,911,000 after acquiring an additional 53,878 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CMCSA. Benchmark cut their target price on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 31st. BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Comcast Price Performance

CMCSA stock opened at $36.01 on Wednesday. Comcast Co. has a 1 year low of $32.50 and a 1 year high of $45.31. The company has a market cap of $136.15 billion, a P/E ratio of 8.68, a PEG ratio of 1.78 and a beta of 1.00. The firm has a 50-day moving average of $35.86 and a 200 day moving average of $39.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last announced 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%. On average, sell-side analysts forecast that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is 31.81%.

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.