Cypress Asset Management Inc. TX Invests $252,000 in Comcast Co. (NASDAQ:CMCSA)

Cypress Asset Management Inc. TX acquired a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,748 shares of the cable giant’s stock, valued at approximately $252,000.

A number of other large investors also recently modified their holdings of CMCSA. Norges Bank bought a new stake in shares of Comcast in the 4th quarter valued at about $2,542,988,000. Northern Trust Corp raised its holdings in shares of Comcast by 0.3% in the 3rd quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock valued at $2,040,522,000 after purchasing an additional 141,874 shares during the period. LSV Asset Management raised its holdings in shares of Comcast by 3.8% in the 4th quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock valued at $687,947,000 after purchasing an additional 570,050 shares during the period. Raymond James & Associates raised its holdings in Comcast by 2.3% in the 4th quarter. Raymond James & Associates now owns 14,692,327 shares of the cable giant’s stock valued at $644,258,000 after acquiring an additional 329,278 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Comcast by 5.4% in the 4th quarter. California Public Employees Retirement System now owns 11,432,426 shares of the cable giant’s stock valued at $501,312,000 after acquiring an additional 581,163 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

Comcast Trading Down 0.4 %

NASDAQ CMCSA traded down $0.15 during mid-day trading on Friday, reaching $38.53. 8,867,940 shares of the stock were exchanged, compared to its average volume of 20,464,918. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $151.18 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.97 and a beta of 0.99. The stock has a 50 day simple moving average of $40.29 and a 200-day simple moving average of $42.07.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Evercore ISI reissued an “outperform” rating and issued a $50.00 price target on shares of Comcast in a report on Tuesday, March 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a report on Monday, May 13th. Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Finally, StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Comcast Company Profile

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.