Miracle Mile Advisors LLC Trims Position in Comcast Co. (NASDAQ:CMCSA)

Miracle Mile Advisors LLC lessened its stake in shares of Comcast Co. (NASDAQ:CMCSAFree Report) by 14.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,546 shares of the cable giant’s stock after selling 3,927 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Comcast were worth $989,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMCSA. Everett Harris & Co. CA boosted its position in shares of Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after acquiring an additional 121,279 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Comcast during the 3rd quarter valued at about $8,868,000. PFG Advisors boosted its position in shares of Comcast by 28.8% during the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after acquiring an additional 5,159 shares during the last quarter. CIC Wealth LLC lifted its position in Comcast by 42.8% in the 3rd quarter. CIC Wealth LLC now owns 8,800 shares of the cable giant’s stock worth $390,000 after buying an additional 2,638 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Comcast in the 3rd quarter worth approximately $90,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

In related news, President Michael J. Cavanagh sold 114,749 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMCSA. Wells Fargo & Company boosted their target price on Comcast from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Rosenblatt Securities boosted their target price on Comcast from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, December 22nd. Pivotal Research boosted their target price on Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.68.

Check Out Our Latest Stock Analysis on CMCSA

Comcast Price Performance

CMCSA opened at $42.28 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. Comcast Co. has a 52-week low of $36.38 and a 52-week high of $47.46. The stock has a market capitalization of $167.93 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98. The stock’s 50 day moving average price is $43.11 and its 200-day moving average price is $43.18.

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

Comcast Increases Dividend

The company also recently declared 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 yield of 2.93%. This is a boost from Comcast’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 2nd. Comcast’s dividend payout ratio 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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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