Rhumbline Advisers Acquires 23,037 Shares of Comcast Co. (NASDAQ:CMCSA)

Rhumbline Advisers grew its position in shares of Comcast Co. (NASDAQ:CMCSAGet Rating) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,821,913 shares of the cable giant’s stock after purchasing an additional 23,037 shares during the period. Rhumbline Advisers’ holdings in Comcast were worth $393,677,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of Comcast by 5.7% during the third quarter. Capital Research Global Investors now owns 143,483,719 shares of the cable giant’s stock valued at $8,025,044,000 after purchasing an additional 7,794,333 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Comcast by 1.7% during the third quarter. Wellington Management Group LLP now owns 99,553,850 shares of the cable giant’s stock valued at $5,568,047,000 after purchasing an additional 1,672,746 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Comcast by 2.6% in the third quarter. Geode Capital Management LLC now owns 76,964,610 shares of the cable giant’s stock worth $4,292,883,000 after acquiring an additional 1,946,861 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Comcast by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 45,683,521 shares of the cable giant’s stock worth $2,555,079,000 after acquiring an additional 1,428,356 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Comcast by 5.9% in the third quarter. Morgan Stanley now owns 43,267,135 shares of the cable giant’s stock worth $2,419,932,000 after acquiring an additional 2,417,070 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO David N. Watson sold 65,410 shares of the company’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $45.69, for a total transaction of $2,988,582.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.35% of the company’s stock.

CMCSA has been the topic of a number of recent analyst reports. Bank of America lowered Comcast from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $50.00 in a research note on Friday, April 29th. Rosenblatt Securities initiated coverage on Comcast in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $51.00 price objective on the stock. Cowen lifted their price objective on Comcast from $60.00 to $64.00 in a research note on Friday, January 28th. TD Securities cut their price objective on Comcast from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $62.00 to $60.00 in a research note on Friday, April 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Comcast has a consensus rating of “Buy” and an average target price of $59.46.

Shares of NASDAQ CMCSA traded up $0.09 during midday trading on Friday, hitting $41.48. 29,683,734 shares of the stock traded hands, compared to its average volume of 28,019,254. The company has a market cap of $188.04 billion, a PE ratio of 13.38, a P/E/G ratio of 0.85 and a beta of 0.97. Comcast Co. has a one year low of $39.47 and a one year high of $61.80. The business has a 50 day moving average price of $45.28 and a two-hundred day moving average price of $48.37. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.86 and a current ratio of 0.86.

Comcast (NASDAQ:CMCSAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The cable giant reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $31.01 billion during the quarter, compared to the consensus estimate of $30.40 billion. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that Comcast Co. will post 3.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.08 annualized dividend and a yield of 2.60%. Comcast’s dividend payout ratio (DPR) is currently 34.84%.

Comcast Profile (Get Rating)

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

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:CMCSAGet Rating).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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