Douglas Lane & Associates LLC Increases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Douglas Lane & Associates LLC boosted its holdings in Comcast Co. (NASDAQ:CMCSA) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,213,275 shares of the cable giant’s stock after buying an additional 2,806 shares during the period. Comcast accounts for approximately 1.2% of Douglas Lane & Associates LLC’s holdings, making the stock its 22nd largest holding. Douglas Lane & Associates LLC owned approximately 0.06% of Comcast worth $83,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Comcast during the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast during the 2nd quarter worth $27,000. McClarren Financial Advisors Inc. grew its position in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of Comcast during the third quarter valued at approximately $30,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Comcast by 220.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after buying an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research analyst reports. Loop Capital reduced their price objective on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley cut shares of Comcast from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $45.00 in a research note on Monday, December 16th. Finally, Pivotal Research raised their target price on Comcast from $47.00 to $54.00 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, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.19 on Wednesday, reaching $37.06. The stock had a trading volume of 14,609,511 shares, compared to its average volume of 22,158,934. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average is $41.06 and its two-hundred day moving average is $40.29. Comcast Co. has a 12 month low of $36.24 and a 12 month high of $47.11. The firm has a market capitalization of $141.81 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, research analysts expect that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.35%. Comcast’s payout ratio is presently 33.33%.

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.