Hi Line Capital Management LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Hi Line Capital Management LLC acquired a new position in Comcast Co. (NASDAQ:CMCSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 222,708 shares of the cable giant’s stock, valued at approximately $9,303,000. Comcast makes up about 4.6% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds have also bought and sold shares of the company. Ontario Teachers Pension Plan Board raised its stake in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Capital World Investors raised its stake in Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Comcast by 80.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after acquiring an additional 4,714,586 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Comcast by 92.1% in the 2nd quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after acquiring an additional 4,182,525 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 3.4 %

CMCSA opened at $43.67 on Friday. The firm has a market cap of $169.11 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The business’s 50 day moving average is $40.73 and its two-hundred day moving average is $39.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period last year, the business posted $1.08 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that Comcast Co. will post 4.24 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.84%. Comcast’s dividend payout ratio (DPR) is presently 32.98%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday. KeyCorp lowered their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Finally, Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $47.75 to $48.00 in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.60.

Comcast Company Profile

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.