NewEdge Wealth LLC Raises Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

NewEdge Wealth LLC increased its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,030 shares of the cable giant's stock after purchasing an additional 30,015 shares during the quarter. NewEdge Wealth LLC's holdings in Comcast were worth $12,586,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Morgan Stanley raised its stake in Comcast by 15.2% in the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant's stock valued at $1,876,273,000 after buying an additional 7,084,451 shares during the last quarter. Norges Bank purchased a new stake in Comcast in the fourth quarter valued at about $1,798,173,000. Northern Trust Corp raised its stake in Comcast by 0.3% in the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant's stock valued at $2,040,522,000 after buying an additional 141,874 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Comcast by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant's stock valued at $1,245,022,000 after buying an additional 189,845 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Comcast by 1.1% in the first quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant's stock valued at $1,987,094,000 after buying an additional 473,150 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of Comcast stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.18% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on CMCSA shares. Redburn Atlantic lowered Comcast from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Citigroup raised their target price on Comcast from $51.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, January 30th. StockNews.com lowered Comcast from a "strong-buy" rating to a "buy" rating in a report on Friday, March 22nd. BNP Paribas reaffirmed a "neutral" rating and set a $45.00 target price on shares of Comcast in a report on Tuesday. Finally, Benchmark reissued a "buy" rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Comcast has a consensus rating of "Moderate Buy" and a consensus target price of $49.50.

Comcast Trading Down 1.9 %

CMCSA stock traded down $0.77 during midday trading on Friday, hitting $39.37. 23,411,787 shares of the company's stock were exchanged, compared to its average volume of 20,697,934. The business has a 50-day simple moving average of $42.30 and a two-hundred day simple moving average of $42.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $156.37 billion, a PE ratio of 10.67, a P/E/G ratio of 0.97 and a beta of 0.98. Comcast Co. has a 1-year low of $36.38 and a 1-year high of $47.46.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. The company had revenue of $31.25 billion during the quarter, compared to analysts' expectations of $30.41 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. On average, sell-side analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a boost from Comcast's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.15%. Comcast's payout ratio is presently 33.33%.

Comcast Company 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.

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