Everence Capital Management Inc. Lowers Holdings in Comcast Co. (NASDAQ:CMCSA)

Everence Capital Management Inc. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,190 shares of the cable giant’s stock after selling 12,010 shares during the quarter. Everence Capital Management Inc.’s holdings in Comcast were worth $3,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. boosted its position in shares of Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after acquiring an additional 249 shares during the last quarter. Taurus Asset Management LLC raised its stake in Comcast by 2.9% during the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock worth $381,000 after purchasing an additional 253 shares during the period. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Comcast by 3.1% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Comcast by 4.7% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after buying an additional 260 shares during the period. Finally, Greenwich Wealth Management LLC increased its holdings in shares of Comcast by 2.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMCSA shares. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Loop Capital decreased their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday. Macquarie raised their target price on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $47.39.

Comcast Stock Up 0.8 %

CMCSA stock traded up $0.31 during mid-day trading on Friday, hitting $37.73. 3,132,979 shares of the company were exchanged, compared to its average volume of 15,779,337. The firm has a fifty day simple moving average of $41.33 and a 200 day simple moving average of $40.25. The company has a market capitalization of $144.38 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data 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. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. On average, research analysts forecast that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.29%. Comcast’s payout ratio is 33.33%.

Insider Transactions at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the 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 transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. The trade was a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

About Comcast

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.