Comcast Co. (NASDAQ:CMCSA) Shares Bought by Redwood Investment Management LLC

Redwood Investment Management LLC grew its position in shares of Comcast Co. (NASDAQ:CMCSAFree Report) by 146.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 196,665 shares of the cable giant’s stock after acquiring an additional 116,775 shares during the quarter. Comcast comprises about 0.8% of Redwood Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. Redwood Investment Management LLC’s holdings in Comcast were worth $8,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Norges Bank bought a new stake in shares of Comcast during the fourth quarter valued at about $2,542,988,000. Capital World Investors raised its stake in shares of Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Comcast by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock valued at $446,303,000 after purchasing an additional 2,861,358 shares in the last quarter. Morningstar Investment Services LLC raised its position in Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock worth $227,034,000 after acquiring an additional 2,772,190 shares in the last quarter. Finally, Assetmark Inc. raised its position in Comcast by 663.0% in the fourth quarter. Assetmark Inc. now owns 2,401,702 shares of the cable giant’s stock worth $105,315,000 after acquiring an additional 2,086,950 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

CMCSA has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Macquarie cut their price objective on Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Friday, April 26th. Finally, Evercore ISI restated an “outperform” rating and set a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Read Our Latest Analysis on Comcast

Comcast Price Performance

NASDAQ:CMCSA traded down $0.47 during trading hours on Tuesday, reaching $38.32. The company had a trading volume of 14,131,720 shares, compared to its average volume of 20,267,510. The stock has a 50-day moving average of $39.35 and a two-hundred day moving average of $41.80. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The firm has a market capitalization of $150.35 billion, a PE ratio of 10.14, a PEG ratio of 0.97 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Analysts forecast that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio is 32.80%.

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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