SeaBridge Investment Advisors LLC Grows Holdings in Comcast Co. (NASDAQ:CMCSA)

SeaBridge Investment Advisors LLC grew its stake in Comcast Co. (NASDAQ:CMCSAGet Rating) by 22.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 111,546 shares of the cable giant’s stock after acquiring an additional 20,254 shares during the period. Comcast comprises 1.6% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Comcast were worth $5,223,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Comcast by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,674,586 shares of the cable giant’s stock valued at $125,224,000 after purchasing an additional 216,441 shares in the last quarter. Tredje AP fonden grew its holdings in shares of Comcast by 2.8% in the first quarter. Tredje AP fonden now owns 545,098 shares of the cable giant’s stock valued at $25,521,000 after purchasing an additional 15,000 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Comcast by 18.5% in the first quarter. Tectonic Advisors LLC now owns 9,057 shares of the cable giant’s stock valued at $424,000 after purchasing an additional 1,416 shares in the last quarter. Proffitt & Goodson Inc. grew its holdings in shares of Comcast by 1,509.2% in the first quarter. Proffitt & Goodson Inc. now owns 17,058 shares of the cable giant’s stock valued at $799,000 after purchasing an additional 15,998 shares in the last quarter. Finally, Novare Capital Management LLC grew its holdings in shares of Comcast by 1.0% in the first quarter. Novare Capital Management LLC now owns 333,480 shares of the cable giant’s stock valued at $15,614,000 after purchasing an additional 3,398 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.78 during midday trading on Friday, reaching $38.15. 512,560 shares of the company traded hands, compared to its average volume of 23,792,066. Comcast Co. has a 52 week low of $36.57 and a 52 week high of $61.80. The stock has a 50-day moving average price of $40.60 and a 200 day moving average price of $44.22. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.44. The company has a market cap of $172.94 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.80 and a beta of 0.91.

Comcast (NASDAQ:CMCSAGet Rating) last posted its earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.09. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The firm had revenue of $30.02 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same period in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Comcast Co. will post 3.62 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, October 4th. Comcast’s dividend payout ratio (DPR) is 35.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMCSA shares. Oppenheimer lowered their price target on shares of Comcast from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 14th. Cowen lowered their price target on shares of Comcast from $60.00 to $51.00 in a report on Friday, July 29th. JPMorgan Chase & Co. cut shares of Comcast from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $45.00 in a report on Friday, July 29th. Raymond James reiterated a “hold” rating on shares of Comcast in a report on Friday, July 8th. Finally, Daiwa Capital Markets initiated coverage on shares of Comcast in a report on Friday, July 1st. They issued an “outperform” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average target price of $52.52.

Insider Buying and Selling at Comcast

In other Comcast news, CAO Daniel C. Murdock sold 8,929 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $44.50, for a total value of $397,340.50. Following the sale, the chief accounting officer now directly owns 1,817 shares in the company, valued at $80,856.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.11% of the company’s stock.

About Comcast

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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

See Also

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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