Douglas Lane & Associates LLC Boosts Stake in Comcast Corporation $CMCSA

Key Points

• Douglas Lane & Associates LLC increased its stake in Comcast by 6.1% in Q4 to 2,038,756 shares, valued at about $60.94 million.
• Comcast beat quarterly EPS estimates ($0.84 vs. $0.75) with revenue roughly flat year-over-year; the stock trades at a P/E of 5.27 with a market cap of ~$101.86 billion and an average analyst rating of Hold (average price target $34.68).
• Comcast declared a $0.33 quarterly dividend (annualized $1.32) yielding ~4.7% with an ex-dividend date of April 1 and pay date April 22, while CEO Michael Cavanagh sold 57,947 shares (~$1.89M), cutting his position by 8.52%.

Douglas Lane & Associates LLC lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,038,756 shares of the cable giant's stock after acquiring an additional 116,987 shares during the quarter. Douglas Lane & Associates LLC owned 0.06% of Comcast worth $60,938,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital A Wealth Management LLC boosted its stake in shares of Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant's stock worth $25,000 after acquiring an additional 436 shares in the last quarter. Imprint Wealth LLC acquired a new position in shares of Comcast during the 3rd quarter worth about $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast during the 3rd quarter worth about $28,000. Olistico Wealth LLC acquired a new position in shares of Comcast during the 4th quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast during the 2nd quarter worth about $31,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup restated a "buy" rating and set a $33.00 price target (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Zacks Research upgraded shares of Comcast from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Barclays set a $28.00 price target on shares of Comcast and gave the stock an "equal weight" rating in a research report on Tuesday, January 13th. UBS Group reduced their price target 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, Benchmark reduced their price target on shares of Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Comcast presently has an average rating of "Hold" and an average price target of $34.68.

Comcast Stock Up 1.3%

CMCSA stock opened at $28.31 on Friday. The company has a market cap of $101.86 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 2.33 and a beta of 0.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The firm has a 50-day moving average of $30.19 and a two-hundred day moving average of $29.26.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. Comcast's dividend payout ratio is presently 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.32% of the company's stock.

About Comcast

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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.