Invst LLC Purchases 3,077 Shares of Comcast Co. (NASDAQ:CMCSA)

Invst LLC lifted its position in Comcast Co. (NASDAQ:CMCSA) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,839 shares of the cable giant’s stock after acquiring an additional 3,077 shares during the quarter. Invst LLC’s holdings in Comcast were worth $1,664,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. Parnassus Investments LLC boosted its position in Comcast by 3.7% during the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after acquiring an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in Comcast by 0.7% during the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after purchasing an additional 15,807 shares in the last quarter. Wulff Hansen & CO. grew its stake in Comcast by 3,816.0% in the second quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock valued at $21,866,000 after purchasing an additional 544,123 shares during the last quarter. Darsana Capital Partners LP raised its holdings in Comcast by 26.7% in the second quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock worth $372,020,000 after purchasing an additional 2,000,000 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Comcast during the third quarter valued at about $2,541,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock opened at $39.53 on Wednesday. The firm has a market cap of $151.26 billion, a PE ratio of 10.63, a P/E/G ratio of 1.63 and a beta of 0.99. The business has a 50-day moving average price of $42.42 and a 200 day moving average price of $40.31. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. Sell-side analysts predict that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMCSA. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Macquarie boosted their target price on shares of Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.19.

Insider Buying and Selling

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast 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.