Dixon Mitchell Investment Counsel Inc. Has $11.85 Million Position in Comcast Corporation $CMCSA

Key Points

• Dixon Mitchell Investment Counsel cut its stake in Comcast by 25.2%, selling 127,058 shares and now holds 376,313 shares valued at about $11.85 million per its latest 13F filing.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $34.87 price target (10 Buys, 15 Holds, 4 Sells), and several firms have recently lowered ratings or trimmed targets.
• Company highlights: Comcast reported $0.84 EPS (vs. $0.75 est.) on $32.31B revenue (roughly flat year-over-year), declared a $0.33 quarterly dividend (yield ~4.3%), and CEO Michael Cavanagh sold 57,947 shares recently.

Dixon Mitchell Investment Counsel Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,313 shares of the cable giant's stock after selling 127,058 shares during the quarter. Dixon Mitchell Investment Counsel Inc.'s holdings in Comcast were worth $11,847,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CMCSA. Cape Investment Advisory Inc. grew its stake in Comcast by 2.6% in the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant's stock valued at $438,000 after buying an additional 307 shares during the last quarter. Titleist Asset Management LLC lifted its position in Comcast by 4.7% during the second quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant's stock worth $272,000 after acquiring an additional 342 shares during the last quarter. Lakeshore Capital Group Inc. lifted its position in Comcast by 2.6% during the third quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant's stock worth $428,000 after acquiring an additional 343 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Comcast by 0.5% during the third quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant's stock worth $2,601,000 after acquiring an additional 372 shares during the period. Finally, Commonwealth Financial Services LLC grew its position in shares of Comcast by 4.6% in the third quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant's stock valued at $265,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CMCSA shares. BNP Paribas Exane lowered Comcast from a "neutral" rating to an "underperform" rating and set a $27.00 target price on the stock. in a research note on Tuesday, February 24th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Zacks Research downgraded Comcast from a "hold" rating to a "strong sell" rating in a report on Friday, February 20th. UBS Group reduced their target price on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Friday, January 30th. Finally, Daiwa Securities Group decreased their price target on shares of Comcast from $38.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 18th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $34.87.

Comcast Price Performance

Comcast stock opened at $31.04 on Tuesday. The firm has a market cap of $111.68 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock's fifty day moving average price is $30.08 and its two-hundred day moving average price is $29.92. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. As a group, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast's payout ratio is 24.58%.

Insiders Place Their Bets

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares of the company's stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.26% of the stock is owned by corporate insiders.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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