NewEdge Wealth LLC Grows Stake in Comcast Co. (NASDAQ:CMCSA)

NewEdge Wealth LLC grew its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 287,030 shares of the cable giant’s stock after acquiring an additional 30,015 shares during the quarter. NewEdge Wealth LLC’s holdings in Comcast were worth $12,586,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vaughan David Investments LLC IL increased its position in Comcast by 2.2% during the fourth quarter. Vaughan David Investments LLC IL now owns 763,993 shares of the cable giant’s stock worth $33,501,000 after buying an additional 16,763 shares in the last quarter. Citizens National Bank Trust Department increased its position in Comcast by 1.8% during the fourth quarter. Citizens National Bank Trust Department now owns 68,855 shares of the cable giant’s stock worth $3,019,000 after buying an additional 1,235 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Comcast during the fourth quarter worth $34,000. Hartford Financial Management Inc. increased its position in Comcast by 1.0% during the fourth quarter. Hartford Financial Management Inc. now owns 30,759 shares of the cable giant’s stock worth $1,349,000 after buying an additional 307 shares in the last quarter. Finally, Genesee Capital Advisors LLC acquired a new stake in shares of Comcast during the fourth quarter worth $1,054,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 1.9 %

Comcast stock traded down $0.77 during midday trading on Friday, hitting $39.37. The stock had a trading volume of 23,411,787 shares, compared to its average volume of 20,697,934. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The stock has a market cap of $156.37 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.97 and a beta of 0.98. Comcast Co. has a 12 month low of $36.38 and a 12 month high of $47.46. The business has a fifty day moving average price of $42.30 and a 200 day moving average price of $42.92.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 25th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The company had revenue of $31.25 billion during the quarter, compared to the consensus estimate of $30.41 billion. Research analysts predict that Comcast Co. will post 4.23 EPS for the current year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd will be paid a $0.31 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, April 2nd. Comcast’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several analyst reports. Oppenheimer restated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday. Evercore ISI restated an “outperform” rating and set a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. Wells Fargo & Company decreased their price objective on Comcast from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, April 5th. Finally, BNP Paribas restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.50.

Insider Buying and Selling at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is currently owned by insiders.

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.