Sterling Investment Management LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,475 shares of the cable giant’s stock after selling 322 shares during the period. Comcast accounts for 2.2% of Sterling Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Sterling Investment Management LLC’s holdings in Comcast were worth $2,720,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at $1,798,173,000. Moneta Group Investment Advisors LLC boosted its stake in Comcast by 121,265.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock worth $892,799,000 after purchasing an additional 25,509,390 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in Comcast by 71,575.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 12,705,989 shares of the cable giant’s stock worth $444,328,000 after purchasing an additional 12,688,262 shares during the period. Morgan Stanley boosted its stake in Comcast by 15.2% in the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Comcast by 62.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after buying an additional 5,880,050 shares during the period. Hedge funds and other institutional investors own 82.85% of the company’s stock.
Comcast Trading Up 0.2 %
Comcast stock traded up $0.07 during trading hours on Tuesday, reaching $45.71. The company had a trading volume of 3,386,601 shares, compared to its average volume of 18,721,420. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.76 and a quick ratio of 0.76. Comcast Co. has a 12-month low of $28.39 and a 12-month high of $47.46. The firm has a market cap of $188.56 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 1.26 and a beta of 0.99. The company has a 50-day moving average price of $44.84 and a 200 day moving average price of $41.06.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast’s dividend payout ratio (DPR) is currently 73.42%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CMCSA. Morgan Stanley increased their price target on shares of Comcast from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Credit Suisse Group upped their price target on shares of Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Wells Fargo & Company upped their price target on shares of Comcast from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Macquarie raised Comcast from an “underperform” rating to a “neutral” rating and set a $46.00 price target on the stock in a report on Friday, July 28th. Finally, Bank of America boosted their price objective on Comcast from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.88.
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, advertising sales, and Sky channels.
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