Trust Point Inc. Purchases New Holdings in Comcast Co. (NASDAQ:CMCSA)

Trust Point Inc. purchased a new stake in Comcast Co. (NASDAQ:CMCSAFree Report) in the 4th quarter, HoldingsChannel reports. The fund purchased 28,295 shares of the cable giant’s stock, valued at approximately $1,241,000.

Several other hedge funds have also made changes to their positions in CMCSA. NewSquare Capital LLC boosted its position 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 acquiring an additional 302 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its holdings in Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares during the period. Fortis Capital Advisors LLC acquired a new stake in Comcast in the fourth quarter worth $29,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Comcast during the third quarter worth $33,000. Finally, First Personal Financial Services bought a new position in Comcast in the third quarter valued at $39,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Transactions at Comcast

In related news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMCSA shares. Wells Fargo & Company raised their target price on shares of Comcast from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Rosenblatt Securities upped their price objective on shares of Comcast from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, December 22nd. Oppenheimer restated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday. Pivotal Research increased their price target on shares of Comcast from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Finally, Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $44.00 in a research report on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.68.

Check Out Our Latest Analysis on CMCSA

Comcast Stock Performance

Shares of CMCSA traded down $0.21 during trading hours on Wednesday, hitting $41.60. The stock had a trading volume of 5,343,493 shares, compared to its average volume of 19,959,447. 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 firm has a 50-day moving average price of $43.04 and a 200 day moving average price of $43.13. Comcast Co. has a fifty-two week low of $36.38 and a fifty-two week high of $47.46. The firm has a market capitalization of $165.23 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.97 and a beta of 0.98.

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

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.29. Comcast’s dividend payout ratio is currently 31.18%.

Comcast 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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