Comcast Co. (NASDAQ:CMCSA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 8.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,890,552 shares of the cable giant's stock after purchasing an additional 586,449 shares during the period. Van ECK Associates Corp owned about 0.20% of Comcast worth $346,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CMCSA. Envestnet Asset Management Inc. boosted its stake in shares of Comcast by 39.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant's stock worth $446,303,000 after purchasing an additional 2,861,358 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Comcast by 43.3% during the third quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant's stock worth $279,843,000 after acquiring an additional 1,907,973 shares during the last quarter. SG Americas Securities LLC grew its stake in Comcast by 422.9% in the 4th quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant's stock worth $73,616,000 after acquiring an additional 1,357,756 shares during the period. Bank of New York Mellon Corp raised its holdings in Comcast by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant's stock valued at $1,603,786,000 after acquiring an additional 1,229,374 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Comcast by 35.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,689,476 shares of the cable giant's stock worth $207,931,000 after purchasing an additional 1,227,469 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of CMCSA traded up $0.28 during midday trading on Monday, reaching $38.85. The stock had a trading volume of 14,665,014 shares, compared to its average volume of 20,884,555. The firm's 50 day moving average price is $41.58 and its 200-day moving average price is $42.55. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The company has a market capitalization of $154.31 billion, a P/E ratio of 10.28, a P/E/G ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion during the quarter, compared to analysts' expectations of $29.83 billion. During the same period last year, the company posted $0.92 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

CMCSA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Wells Fargo & Company cut their target price on Comcast from $47.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Friday. Scotiabank lowered their price target on Comcast from $50.00 to $47.25 and set a "sector perform" rating for the company in a research report on Friday. Rosenblatt Securities restated a "neutral" rating and issued a $45.00 price objective on shares of Comcast in a report on Friday. Finally, BNP Paribas reiterated a "neutral" rating and set a $45.00 target price on shares of Comcast in a report on Tuesday, April 9th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.60.

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.

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