Mackenzie Financial Corp Sells 61,659 Shares of Comcast Co. (NASDAQ:CMCSA)

Mackenzie Financial Corp cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 842,591 shares of the cable giant's stock after selling 61,659 shares during the period. Mackenzie Financial Corp's holdings in Comcast were worth $31,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors lifted its position in Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. Norges Bank acquired a new stake in Comcast in the fourth quarter worth approximately $3,835,226,000. Geode Capital Management LLC lifted its position in Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Dodge & Cox lifted its position in shares of Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA traded down $0.35 during mid-day trading on Thursday, hitting $34.28. 22,615,673 shares of the stock were exchanged, compared to its average volume of 21,977,579. The stock has a market capitalization of $127.99 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The firm's 50-day simple moving average is $34.74 and its 200 day simple moving average is $36.86. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. As a group, equities analysts anticipate that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.85%. Comcast's dividend payout ratio is presently 32.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Scotiabank reiterated a "sector perform" rating and set a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Wall Street Zen upgraded Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reissued a "neutral" rating and set a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Finally, Macquarie dropped their price target on shares of Comcast from $42.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Comcast currently has a consensus rating of "Moderate Buy" and an average target price of $42.10.

Comcast 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.