Hourglass Capital LLC Boosts Position in Comcast Corporation $CMCSA

Hourglass Capital LLC raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 90.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 114,140 shares of the cable giant’s stock after buying an additional 54,060 shares during the quarter. Hourglass Capital LLC’s holdings in Comcast were worth $3,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CMCSA. Capital A Wealth Management LLC increased its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after acquiring an additional 436 shares during the period. Howard Hughes Medical Institute acquired a new position in Comcast during the second quarter valued at $29,000. Imprint Wealth LLC acquired a new position in Comcast during the third quarter valued at $26,000. Newbridge Financial Services Group Inc. purchased a new stake in Comcast in the second quarter valued at $31,000. Finally, United Financial Planning Group LLC acquired a new stake in Comcast during the 3rd quarter worth about $28,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent research reports. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. TD Cowen dropped their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Barclays set a $28.00 price target on Comcast and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Scotiabank lowered their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Finally, Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.76.

Comcast Trading Down 1.4%

CMCSA stock opened at $28.33 on Friday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.48. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $101.93 billion, a P/E ratio of 5.28, a PEG ratio of 2.26 and a beta of 0.79. The company’s 50-day simple moving average is $30.31 and its 200-day simple moving average is $29.55.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. Comcast’s payout ratio is 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.32% of the stock is currently owned by insiders.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.