Highbridge Capital Management LLC Takes Position in Comcast Co. (CMCSA)

Highbridge Capital Management LLC bought a new position in Comcast Co. (NASDAQ:CMCSA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 61,339 shares of the cable giant’s stock, valued at approximately $2,172,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. FMR LLC increased its stake in shares of Comcast by 10.2% in the third quarter. FMR LLC now owns 123,314,475 shares of the cable giant’s stock worth $4,366,565,000 after buying an additional 11,459,543 shares during the period. Bank of Montreal Can boosted its holdings in Comcast by 43.9% in the third quarter. Bank of Montreal Can now owns 22,597,172 shares of the cable giant’s stock valued at $800,167,000 after acquiring an additional 6,893,674 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Comcast by 17.6% in the third quarter. Alliancebernstein L.P. now owns 36,684,340 shares of the cable giant’s stock valued at $1,298,992,000 after acquiring an additional 5,499,850 shares in the last quarter. Natixis bought a new stake in Comcast in the second quarter valued at $147,520,000. Finally, Canyon Capital Advisors LLC bought a new stake in Comcast in the second quarter valued at $147,645,000. 79.99% of the stock is currently owned by institutional investors.

In related news, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $35.94, for a total value of $38,887.08. Following the transaction, the executive vice president now owns 62,476 shares in the company, valued at approximately $2,245,387.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the completion of the transaction, the executive vice president now owns 74,644 shares in the company, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.

Shares of CMCSA stock opened at $37.41 on Friday. Comcast Co. has a 12 month low of $30.43 and a 12 month high of $44.00. The firm has a market cap of $175.93 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. Comcast had a net margin of 27.33% and a return on equity of 15.79%. The firm had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. As a group, analysts expect that Comcast Co. will post 2.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, December 31st. Comcast’s payout ratio is 36.89%.

Several research firms recently weighed in on CMCSA. Pivotal Research reiterated a “buy” rating on shares of Comcast in a report on Friday, August 10th. Wolfe Research began coverage on shares of Comcast in a report on Friday. They issued an “outperform” rating on the stock. MED began coverage on shares of Comcast in a report on Wednesday, October 24th. They issued a “buy” rating and a $43.00 price target on the stock. They noted that the move was a valuation call. BidaskClub cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 8th. Finally, Moffett Nathanson reiterated a “neutral” rating and issued a $36.00 price target on shares of Comcast in a report on Monday, September 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.61.

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Comcast Company Profile

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

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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