Trust Point Inc. Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Trust Point Inc. purchased a new position in shares of Comcast Co. (NASDAQ:CMCSAFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,295 shares of the cable giant’s stock, valued at approximately $1,241,000.

Several other hedge funds have also modified their holdings of the stock. NewSquare Capital LLC grew its stake in shares of Comcast by 94.1% during the 3rd quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock valued at $28,000 after buying an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 475,675 shares in the last quarter. Fortis Capital Advisors LLC purchased a new stake in Comcast in the 4th quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Comcast during the 3rd quarter worth $33,000. Finally, First Personal Financial Services acquired a new position in shares of Comcast during the 3rd quarter worth $39,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday. Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price target on shares of Comcast in a report on Tuesday, March 26th. Finally, Citigroup increased their target price on shares of Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.68.

Get Our Latest Stock Report on CMCSA

Insider Activity at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Comcast Price Performance

Shares of NASDAQ CMCSA traded down $0.21 during trading on Wednesday, hitting $41.60. The company had a trading volume of 5,343,493 shares, compared to its average volume of 19,959,447. Comcast Co. has a 52 week low of $36.38 and a 52 week high of $47.46. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $165.23 billion, a P/E ratio of 11.17, a PEG ratio of 0.97 and a beta of 0.98. The business’s 50-day moving average is $43.04 and its 200 day moving average is $43.13.

Comcast (NASDAQ:CMCSAGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The firm had revenue of $31.25 billion during the quarter, compared to analysts’ expectations of $30.41 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. Equities research analysts predict that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Tuesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.29. Comcast’s dividend payout ratio (DPR) is presently 31.18%.

Comcast Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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