Hartford Investment Management Co. Sells 12,738 Shares of Comcast Co. (NASDAQ:CMCSA)

Hartford Investment Management Co. reduced its holdings in Comcast Co. (NASDAQ:CMCSAFree Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,226 shares of the cable giant’s stock after selling 12,738 shares during the quarter. Hartford Investment Management Co.’s holdings in Comcast were worth $11,849,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ironwood Wealth Management LLC. boosted its position in shares of Comcast by 2.4% during the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock valued at $724,000 after purchasing an additional 363 shares in the last quarter. United Bank boosted its position in shares of Comcast by 17.4% during the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock valued at $1,745,000 after purchasing an additional 5,532 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Comcast by 29.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock valued at $190,261,000 after buying an additional 928,627 shares during the last quarter. Covestor Ltd raised its stake in Comcast by 104.4% during the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock valued at $163,000 after buying an additional 1,773 shares during the last quarter. Finally, First Western Trust Bank purchased a new position in Comcast during the first quarter valued at $482,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Down 0.5 %

Shares of NASDAQ:CMCSA traded down $0.19 on Wednesday, reaching $41.62. The company had a trading volume of 6,326,964 shares, compared to its average volume of 19,980,197. Comcast Co. has a 52-week low of $36.38 and a 52-week high of $47.46. The firm’s 50 day simple moving average is $43.04 and its 200-day simple moving average is $43.13. The firm has a market capitalization of $165.31 billion, a PE ratio of 11.17, a PEG ratio of 0.97 and a beta of 0.98. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The firm had revenue of $31.25 billion for the quarter, compared to the consensus estimate of $30.41 billion. As a group, analysts expect that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.29. Comcast’s payout ratio is 31.18%.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a research note on Wednesday. Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Wells Fargo & Company boosted their price target on Comcast from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Pivotal Research boosted their price target on Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Finally, StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.68.

Get Our Latest Report on CMCSA

Comcast Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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