Van Cleef Asset Management Inc Acquires 176,069 Shares of Comcast Corporation (NASDAQ:CMCSA)

Van Cleef Asset Management Inc raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 61.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 462,255 shares of the cable giant's stock after purchasing an additional 176,069 shares during the quarter. Comcast accounts for 1.9% of Van Cleef Asset Management Inc's portfolio, making the stock its 15th biggest position. Van Cleef Asset Management Inc's holdings in Comcast were worth $17,057,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Capital World Investors raised its holdings in shares of Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. Norges Bank bought a new position in shares of Comcast during the fourth quarter valued at approximately $3,835,226,000. Geode Capital Management LLC raised its holdings in shares of Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares in the last quarter. Dodge & Cox raised its holdings in shares of Comcast by 6.8% during the fourth 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMCSA shares. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target on the stock. in a research note on Thursday, April 10th. Scotiabank reaffirmed a "sector perform" rating and issued a $44.50 price target (down from $45.00) on shares of Comcast in a research note on Friday, April 25th. Wells Fargo & Company cut Comcast from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Bernstein Bank reduced their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley set a $37.00 price target on Comcast in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $40.96.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.38 during trading on Wednesday, hitting $35.62. The company had a trading volume of 14,740,741 shares, compared to its average volume of 21,984,336. The stock has a 50 day simple moving average of $34.89 and a 200 day simple moving average of $35.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The firm has a market capitalization of $132.99 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter last year, the company earned $1.04 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is currently 32.43%.

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.