Bank of New York Mellon Corp Has $1.06 Billion Stake in Comcast Co. (NASDAQ:CMCSA)

Bank of New York Mellon Corp reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,131,459 shares of the cable giant’s stock after selling 1,339,111 shares during the period. Bank of New York Mellon Corp owned 0.74% of Comcast worth $1,055,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB increased its stake in Comcast by 18.9% in the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock valued at $34,810,000 after purchasing an additional 132,442 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of Comcast by 10.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 23,070 shares of the cable giant’s stock valued at $964,000 after buying an additional 2,211 shares during the period. Smith Salley Wealth Management raised its stake in Comcast by 1.3% during the 3rd quarter. Smith Salley Wealth Management now owns 26,323 shares of the cable giant’s stock worth $1,100,000 after buying an additional 337 shares during the period. First Financial Bankshares Inc boosted its holdings in Comcast by 1.7% in the third quarter. First Financial Bankshares Inc now owns 819,590 shares of the cable giant’s stock worth $34,234,000 after acquiring an additional 13,418 shares in the last quarter. Finally, Hibernia Wealth Partners LLC acquired a new stake in Comcast in the third quarter valued at approximately $203,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CMCSA shares. Wells Fargo & Company decreased 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. Bank of America downgraded shares of Comcast from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $38.00 in a research report on Friday, January 31st. The Goldman Sachs Group lowered their price objective on Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Scotiabank cut Comcast from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given 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 $43.83.

Comcast Stock Up 0.2 %

CMCSA opened at $36.30 on Tuesday. Comcast Co. has a 12 month low of $32.50 and a 12 month high of $45.31. The company has a market cap of $137.25 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $36.52 and a 200 day moving average of $39.57.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. On average, sell-side analysts expect that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a yield of 3.64%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is currently 31.81%.

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.