Lord Abbett & CO. LLC Raises Stock Position in Comcast Co. (NASDAQ:CMCSA)


Share on StockTwits

Lord Abbett & CO. LLC boosted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,380,810 shares of the cable giant’s stock after acquiring an additional 125,221 shares during the quarter. Comcast makes up about 0.7% of Lord Abbett & CO. LLC’s portfolio, making the stock its 10th biggest position. Lord Abbett & CO. LLC’s holdings in Comcast were worth $281,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Syntal Capital Partners LLC bought a new position in Comcast in the 3rd quarter worth about $1,003,000. Prestige Wealth Management Group LLC grew its stake in Comcast by 7.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 16,489 shares of the cable giant’s stock worth $763,000 after acquiring an additional 1,118 shares in the last quarter. Merriman Wealth Management LLC bought a new position in Comcast in the 3rd quarter worth about $224,000. Clear Harbor Asset Management LLC lifted its position in shares of Comcast by 59.6% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 21,901 shares of the cable giant’s stock worth $1,013,000 after purchasing an additional 8,179 shares during the period. Finally, Landsberg Bennett & Dubbaneh LLC lifted its position in shares of Comcast by 4.5% in the 3rd quarter. Landsberg Bennett & Dubbaneh LLC now owns 120,253 shares of the cable giant’s stock worth $5,556,000 after purchasing an additional 5,188 shares during the period. Institutional investors own 82.56% of the company’s stock.

In other Comcast news, Director Maritza Gomez Montiel sold 2,000 shares of Comcast stock in a transaction dated Thursday, January 28th. The shares were sold at an average price of $49.97, for a total transaction of $99,940.00. Following the transaction, the director now directly owns 13,170 shares of the company’s stock, valued at $658,104.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeff Shell sold 5,582 shares of Comcast stock in a transaction dated Wednesday, December 2nd. The stock was sold at an average price of $51.23, for a total transaction of $285,965.86. Following the transaction, the chief executive officer now directly owns 348,167 shares in the company, valued at $17,836,595.41. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Several equities research analysts have recently weighed in on CMCSA shares. Truist upped their price target on shares of Comcast from $50.00 to $60.00 in a research report on Friday, January 29th. Smith Barney Citigroup increased their target price on shares of Comcast from $52.00 to $54.00 in a research report on Tuesday, November 10th. Macquarie increased their target price on shares of Comcast from $53.00 to $58.00 in a research report on Thursday, January 14th. Cowen upgraded shares of Comcast from a “market perform” rating to an “outperform” rating and upped their price target for the company from $56.00 to $60.00 in a research note on Wednesday, February 3rd. Finally, Morgan Stanley restated a “top pick” rating and set a $62.00 price target (up previously from $57.00) on shares of Comcast in a research note on Wednesday, December 16th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Comcast has an average rating of “Buy” and a consensus price target of $53.85.

CMCSA stock traded up $0.05 during midday trading on Tuesday, hitting $52.55. 413,035 shares of the stock traded hands, compared to its average volume of 18,096,334. The firm has a market cap of $240.71 billion, a P/E ratio of 23.54, a PEG ratio of 1.69 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s fifty day simple moving average is $50.79 and its 200-day simple moving average is $47.78. Comcast Co. has a 1-year low of $31.70 and a 1-year high of $53.60.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 28th. The cable giant reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The company had revenue of $27.71 billion for the quarter, compared to analyst estimates of $26.79 billion. Comcast had a net margin of 9.90% and a return on equity of 15.45%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. On average, research analysts predict that Comcast Co. will post 2.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, April 7th will be paid a $0.25 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 6th. Comcast’s dividend payout ratio (DPR) is currently 29.39%.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.

Featured Story: Float

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.