Northeast Investment Management Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

by · The Cerbat Gem

Northeast Investment Management trimmed its stake in Comcast Co. (NASDAQ:CMCSA – Free Report) by 19.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,248 shares of the cable giant’s stock after selling 4,511 shares during the quarter. Northeast Investment Management’s holdings in Comcast were worth $804,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital World Investors grew its holdings in Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the period. Dimensional Fund Advisors LP grew its stake in Comcast by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after buying an additional 1,000,626 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares during the period. Ontario Teachers Pension Plan Board grew its stake in Comcast by 25,881.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares during the period. Finally, First Pacific Advisors LP grew its stake in Comcast by 2.1% during the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock worth $423,633,000 after buying an additional 219,894 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Pivotal Research boosted their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Read Our Latest Report on CMCSA

Comcast Stock Down 0.3 %

Shares of NASDAQ:CMCSA opened at $43.56 on Monday. The stock has a market capitalization of $168.69 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The company’s fifty day moving average is $40.80 and its two-hundred day moving average is $39.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.66 and a current ratio of 0.72.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued its earnings results 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 company had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Equities analysts anticipate that Comcast Co. will post 4.24 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. Comcast’s dividend payout ratio is currently 33.33%.

Comcast Profile

(Free Report)

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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