Lake Point Wealth Management Acquires Shares of 7,461 Comcast Co. (CMCSA)

Lake Point Wealth Management acquired a new stake in Comcast Co. (NASDAQ:CMCSA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 7,461 shares of the cable giant’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Comcast by 0.6% during the fourth quarter. BlackRock Inc. now owns 320,375,109 shares of the cable giant’s stock worth $10,908,773,000 after acquiring an additional 1,855,378 shares during the last quarter. Dodge & Cox boosted its position in Comcast by 0.4% during the third quarter. Dodge & Cox now owns 132,526,363 shares of the cable giant’s stock worth $4,692,759,000 after acquiring an additional 509,730 shares during the last quarter. Geode Capital Management LLC boosted its position in Comcast by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock worth $2,165,450,000 after acquiring an additional 5,992,911 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Comcast by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,579,451 shares of the cable giant’s stock worth $1,824,544,000 after acquiring an additional 326,417 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Comcast by 3.5% during the fourth quarter. Northern Trust Corp now owns 53,028,586 shares of the cable giant’s stock worth $1,805,623,000 after acquiring an additional 1,816,774 shares during the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

In related news, EVP David N. Watson sold 201,007 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $38.31, for a total transaction of $7,700,578.17. Following the sale, the executive vice president now directly owns 817,992 shares of the company’s stock, valued at approximately $31,337,273.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David L. Cohen sold 275,746 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $37.01, for a total transaction of $10,205,359.46. Following the sale, the executive vice president now directly owns 650,656 shares in the company, valued at $24,080,778.56. The disclosure for this sale can be found here. Insiders sold a total of 1,284,720 shares of company stock worth $49,080,076 over the last three months. Insiders own 1.31% of the company’s stock.

CMCSA has been the topic of a number of recent research reports. BidaskClub upgraded shares of Comcast from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Macquarie reiterated a “hold” rating and issued a $39.00 target price on shares of Comcast in a report on Monday, December 24th. Royal Bank of Canada lowered shares of Comcast from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $45.00 to $42.00 in a report on Friday, March 29th. Finally, Nomura boosted their target price on shares of Comcast from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $44.45.

Comcast stock opened at $42.57 on Thursday. The company has a market capitalization of $194.93 billion, a PE ratio of 16.69, a P/E/G ratio of 1.17 and a beta of 1.10. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $42.64. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.48.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $27.85 billion for the quarter, compared to the consensus estimate of $27.56 billion. Comcast had a net margin of 12.41% and a return on equity of 16.49%. The business’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, research analysts forecast that Comcast Co. will post 2.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Comcast’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 2nd. Comcast’s payout ratio is 32.94%.

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Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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