Salem Investment Counselors Inc. trimmed its holdings in Comcast Co. (NASDAQ:CMCSA – Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,841 shares of the cable giant’s stock after selling 653 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Comcast were worth $857,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Agate Pass Investment Management LLC bought a new position in Comcast during the 4th quarter worth approximately $263,000. Capital Investment Advisors LLC raised its holdings in Comcast by 9.0% in the fourth quarter. Capital Investment Advisors LLC now owns 50,256 shares of the cable giant’s stock worth $1,886,000 after purchasing an additional 4,148 shares during the period. Brookstone Capital Management grew its holdings in shares of Comcast by 7.1% in the 4th quarter. Brookstone Capital Management now owns 212,982 shares of the cable giant’s stock valued at $7,993,000 after buying an additional 14,128 shares during the period. Trust Co. of Toledo NA OH increased its position in shares of Comcast by 11.8% in the 4th quarter. Trust Co. of Toledo NA OH now owns 80,742 shares of the cable giant’s stock valued at $3,030,000 after buying an additional 8,517 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its stake in Comcast by 982.8% during the 4th quarter. Fiduciary Alliance LLC now owns 79,110 shares of the cable giant’s stock worth $2,969,000 after buying an additional 71,804 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $48.00 to $45.00 in a research note on Monday, December 16th. Wells Fargo & Company cut their price target on shares of Comcast from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Barclays increased their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Loop Capital dropped their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.
Insider Transactions at Comcast
In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % 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 Stock Up 0.2 %
Shares of CMCSA stock opened at $36.45 on Tuesday. Comcast Co. has a 52-week low of $36.24 and a 52-week high of $47.11. 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 stock has a market cap of $139.48 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 1.50 and a beta of 1.01. The firm’s 50-day moving average is $40.57 and its 200-day moving average is $40.25.
Comcast (NASDAQ:CMCSA – Get Free Report) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Comcast Co. will post 4.26 EPS for the current year.
Comcast Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is presently 33.33%.
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.
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