Comcast Co. (NASDAQ:CMCSA) Stake Trimmed by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,674,064 shares of the cable giant’s stock after selling 68,152 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Comcast were worth $62,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Promus Capital LLC acquired a new position in Comcast during the fourth quarter valued at $25,000. Winch Advisory Services LLC increased its holdings in shares of Comcast by 269.9% in the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Comcast in the fourth quarter worth approximately $27,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Comcast during the fourth quarter worth approximately $28,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Comcast in the 3rd quarter valued at approximately $30,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Macquarie cut their price target on Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Loop Capital decreased their target price on shares of Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Morgan Stanley cut their price target on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America cut shares of Comcast from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $38.00 in a report on Friday, January 31st. Finally, Sanford C. Bernstein set a $38.00 target price on Comcast in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.64.

Comcast Trading Down 2.0 %

Shares of CMCSA opened at $36.62 on Monday. The stock’s 50-day moving average price is $35.89 and its 200 day moving average price is $38.99. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $138.46 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.78 and a beta of 1.00. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, research analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.60%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is presently 31.81%.

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.