Transcendent Capital Group LLC Makes New $56,000 Investment in Comcast Co. (NASDAQ:CMCSA)

Transcendent Capital Group LLC bought a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the fourth quarter, Holdings Channel reports. The firm bought 1,266 shares of the cable giant’s stock, valued at approximately $56,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Comcast in the fourth quarter worth $2,542,988,000. Capital World Investors lifted its position in Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after purchasing an additional 15,625,543 shares during the period. Envestnet Asset Management Inc. lifted its position in Comcast by 39.7% in the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock worth $446,303,000 after purchasing an additional 2,861,358 shares during the period. Morningstar Investment Services LLC lifted its position in Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock worth $227,034,000 after purchasing an additional 2,772,190 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Comcast by 215.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock worth $158,835,000 after purchasing an additional 2,474,946 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.4 %

Comcast stock traded down $0.14 during mid-day trading on Friday, hitting $37.44. The stock had a trading volume of 12,692,458 shares, compared to its average volume of 16,252,715. The stock has a 50-day simple moving average of $39.06 and a two-hundred day simple moving average of $41.68. The stock has a market capitalization of $146.90 billion, a PE ratio of 9.90, a P/E/G ratio of 0.94 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. As a group, sell-side analysts forecast that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CMCSA. Wells Fargo & Company reduced their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. Scotiabank dropped their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Friday, April 26th. Finally, BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $48.83.

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.