Douglas Lane & Associates LLC Has $92.33 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Douglas Lane & Associates LLC raised its stake in Comcast Co. (NASDAQ:CMCSA) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,210,469 shares of the cable giant’s stock after purchasing an additional 15,807 shares during the period. Comcast accounts for approximately 1.3% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 23rd biggest position. Douglas Lane & Associates LLC owned approximately 0.06% of Comcast worth $92,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Steph & Co. boosted its position in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Fairscale Capital LLC bought a new stake in shares of Comcast in the second quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Comcast in the second quarter valued at about $27,000. IAG Wealth Partners LLC boosted its position in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the period. Finally, Pineridge Advisors LLC bought a new stake in shares of Comcast in the fourth quarter valued at about $32,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Up 0.4 %

Shares of Comcast stock traded up $0.16 on Friday, reaching $41.26. 10,447,759 shares of the company’s stock were exchanged, compared to its average volume of 19,735,881. The company has a market capitalization of $161.89 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The firm’s 50-day moving average is $39.99 and its two-hundred day moving average is $39.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period last year, the business earned $1.13 EPS. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp cut their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Pivotal Research cut their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.55.

About Comcast

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.