Cohen Klingenstein LLC Sells 32,702 Shares of Comcast Co. (NASDAQ:CMCSA)

Cohen Klingenstein LLC cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.3% during the 4th quarter, Holdings Channel reports. The fund owned 579,994 shares of the cable giant’s stock after selling 32,702 shares during the period. Comcast comprises approximately 0.7% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 20th largest position. Cohen Klingenstein LLC’s holdings in Comcast were worth $21,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after buying an additional 6,062,658 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comcast by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Comcast by 6.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after purchasing an additional 1,717,762 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Comcast by 5.4% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after purchasing an additional 822,936 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Comcast by 4.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after acquiring an additional 676,920 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 0.7 %

Comcast stock opened at $36.58 on Friday. Comcast Co. has a fifty-two week low of $36.15 and a fifty-two week high of $47.11. The company has a market cap of $139.97 billion, a PE ratio of 9.83, a PEG ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50-day simple moving average is $40.11 and its two-hundred day simple moving average is $40.18.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Equities analysts anticipate that Comcast Co. will post 4.25 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMCSA. Wells Fargo & Company reduced their target price on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Loop Capital reduced their target price on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. KeyCorp raised their price target on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $60.00 price objective on shares of Comcast in a research report on Tuesday, November 19th. Finally, Morgan Stanley downgraded shares of Comcast from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $48.00 to $45.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.33.

Insider Activity at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the business’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 value of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

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.