Waterfront Wealth Inc. Raises Stock Position in Comcast Co. (NASDAQ:CMCSA)

Waterfront Wealth Inc. raised its holdings in Comcast Co. (NASDAQ:CMCSA) by 28.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,404 shares of the cable giant’s stock after acquiring an additional 1,421 shares during the period. Waterfront Wealth Inc.’s holdings in Comcast were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC increased its holdings in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Comcast during the third quarter valued at $30,000. Roxbury Financial LLC purchased a new position in Comcast in the fourth quarter valued at $27,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Comcast in the fourth quarter worth about $28,000. Finally, Dunhill Financial LLC boosted its stake in shares of Comcast by 54.8% during the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock worth $34,000 after acquiring an additional 288 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CMCSA shares. BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday, January 31st. Scotiabank cut Comcast from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $48.00 to $44.50 in a research report on Monday, February 3rd. Loop Capital decreased their target price on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.13.

Insiders Place Their Bets

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

Comcast Trading Down 0.4 %

Shares of Comcast stock opened at $36.26 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $36.58 and its 200-day simple moving average is $39.58. The stock has a market cap of $137.08 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.79 and a beta of 1.00. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Analysts predict that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, April 2nd. Comcast’s dividend payout ratio (DPR) is presently 29.88%.

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.