CI Investments Inc. Has $151.53 Million Stake in Comcast Co. (CMCSA)

CI Investments Inc. lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,450,100 shares of the cable giant’s stock after selling 97,599 shares during the period. Comcast comprises 1.0% of CI Investments Inc.’s investment portfolio, making the stock its 26th biggest position. CI Investments Inc.’s holdings in Comcast were worth $151,526,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Comcast by 0.6% in the 4th quarter. BlackRock Inc. now owns 320,375,109 shares of the cable giant’s stock valued at $10,908,773,000 after purchasing an additional 1,855,378 shares in the last quarter. Dodge & Cox increased its stake in shares of Comcast by 0.4% in the 3rd quarter. Dodge & Cox now owns 132,526,363 shares of the cable giant’s stock valued at $4,692,759,000 after purchasing an additional 509,730 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Comcast by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock valued at $2,165,450,000 after purchasing an additional 5,992,911 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Comcast by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,579,451 shares of the cable giant’s stock worth $1,824,544,000 after buying an additional 326,417 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Comcast by 3.5% during the 4th quarter. Northern Trust Corp now owns 53,028,586 shares of the cable giant’s stock worth $1,805,623,000 after buying an additional 1,816,774 shares in the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.

In related news, EVP David N. Watson sold 201,007 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $38.31, for a total value of $7,700,578.17. Following the transaction, the executive vice president now directly owns 817,992 shares in the company, valued at $31,337,273.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David L. Cohen sold 275,746 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $37.01, for a total value of $10,205,359.46. Following the completion of the transaction, the executive vice president now owns 650,656 shares in the company, valued at $24,080,778.56. The disclosure for this sale can be found here. Insiders sold 1,284,720 shares of company stock valued at $49,080,076 over the last 90 days. Company insiders own 1.31% of the company’s stock.



Several equities research analysts have commented on CMCSA shares. Macquarie reiterated a “hold” rating and set a $39.00 price objective on shares of Comcast in a research note on Monday, December 24th. Credit Suisse Group reiterated a “buy” rating and set a $44.00 price objective on shares of Comcast in a research note on Tuesday, January 22nd. TD Securities boosted their price objective on Comcast from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. BidaskClub lowered Comcast from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, ValuEngine upgraded Comcast from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.45.

CMCSA stock opened at $41.78 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $192.35 billion, a PE ratio of 16.38, a P/E/G ratio of 1.15 and a beta of 1.10. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $41.80.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $27.85 billion during the quarter, compared to analyst estimates of $27.56 billion. Comcast had a return on equity of 16.49% and a net margin of 12.41%. The business’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Equities research analysts predict that Comcast Co. will post 2.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a positive change from Comcast’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. Comcast’s dividend payout ratio is 32.94%.

ILLEGAL ACTIVITY WARNING: “CI Investments Inc. Has $151.53 Million Stake in Comcast Co. (CMCSA)” was first reported by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://dakotafinancialnews.com/2019/04/16/ci-investments-inc-has-151-53-million-stake-in-comcast-co-cmcsa.html.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

See Also: Short Selling Stocks and Day Traders

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

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.