Hi Line Capital Management LLC Makes New $9.30 Million Investment in Comcast Co. (NASDAQ:CMCSA)

Hi Line Capital Management LLC bought a new position in shares of Comcast Co. (NASDAQ:CMCSA) during the third quarter, HoldingsChannel.com reports. The firm bought 222,708 shares of the cable giant’s stock, valued at approximately $9,303,000. Comcast accounts for approximately 4.6% of Hi Line Capital Management LLC’s holdings, making the stock its 8th biggest holding.

A number of other institutional investors also recently bought and sold shares of CMCSA. Fairscale Capital LLC purchased a new stake in Comcast during the second quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Comcast in the second quarter worth $27,000. IAG Wealth Partners LLC raised its holdings in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. raised its holdings in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares during the last quarter. Finally, Archer Investment Corp raised its holdings in shares of Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMCSA. Macquarie reissued a “neutral” rating and issued a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $47.75 to $48.00 in a report on Friday. Finally, Barclays dropped their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average price target of $45.60.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $43.67 on Friday. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The business has a 50-day moving average of $40.73 and a 200-day moving average of $39.55. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $169.11 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.11 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, equities analysts anticipate that Comcast Co. will post 4.24 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 32.98%.

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.