Tortoise Investment Management LLC lessened its position in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,672 shares of the cable giant’s stock after selling 325 shares during the period. Tortoise Investment Management LLC’s holdings in Comcast were worth $137,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. bought a new stake in Comcast in the third quarter valued at $43,000. Newbridge Financial Services Group Inc. increased its stake in Comcast by 91.2% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,537 shares of the cable giant’s stock valued at $45,000 after purchasing an additional 733 shares in the last quarter. WFA of San Diego LLC bought a new stake in Comcast in the second quarter valued at $46,000. Urban Wealth Management LLC bought a new stake in Comcast in the second quarter valued at $48,000. Finally, Better Money Decisions LLC bought a new stake in Comcast in the second quarter valued at $50,000. Institutional investors own 82.23% of the company’s stock.
Comcast Stock Performance
Shares of CMCSA stock opened at $39.75 on Wednesday. The firm has a market cap of $171.86 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 0.84 and a beta of 1.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.84 and a current ratio of 0.84. Comcast Co. has a 52 week low of $28.39 and a 52 week high of $50.98. The firm’s 50-day simple moving average is $36.12 and its two-hundred day simple moving average is $35.42.
Comcast Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Tuesday, January 3rd. Comcast’s dividend payout ratio (DPR) is currently 93.91%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CMCSA. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Cowen reduced their price objective on shares of Comcast from $51.00 to $49.00 in a report on Friday, October 28th. Barclays reduced their price objective on shares of Comcast from $42.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, September 29th. Citigroup lifted their price objective on shares of Comcast to $38.00 in a report on Tuesday, November 1st. Finally, Morgan Stanley reduced their price objective on shares of Comcast from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus target price of $44.57.
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.
- Get a free copy of the StockNews.com research report on Comcast (CMCSA)
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