Neo Ivy Capital Management Invests $8.22 Million in Comcast Co. (NASDAQ:CMCSA)

Neo Ivy Capital Management purchased a new stake in Comcast Co. (NASDAQ:CMCSA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 219,024 shares of the cable giant's stock, valued at approximately $8,219,000. Comcast comprises approximately 1.7% of Neo Ivy Capital Management's investment portfolio, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Promus Capital LLC bought a new stake in Comcast during the 4th quarter worth $25,000. Roxbury Financial LLC bought a new stake in Comcast during the 4th quarter worth $27,000. Wingate Wealth Advisors Inc. bought a new stake in Comcast during the 4th quarter worth $28,000. Mpwm Advisory Solutions LLC bought a new stake in Comcast during the 4th quarter worth $33,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Comcast during the 4th quarter worth $36,000. Institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMCSA shares. Citigroup cut their target price on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Argus downgraded Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $36.00 target price on shares of Comcast in a report on Monday, April 28th. UBS Group set a $44.50 target price on Comcast in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Comcast from $45.00 to $39.00 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 given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.10.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.43 during trading on Tuesday, hitting $34.95. The company's stock had a trading volume of 22,016,244 shares, compared to its average volume of 26,241,615. The company has a market cap of $130.49 billion, a PE ratio of 8.42, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average of $34.81 and a 200-day moving average of $36.89. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31.

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

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio is presently 32.43%.

About Comcast

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.