Tortoise Investment Management LLC Sells 325 Shares of Comcast Co. (NASDAQ:CMCSA)

Tortoise Investment Management LLC decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSAGet Rating) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,672 shares of the cable giant’s stock after selling 325 shares during the period. Tortoise Investment Management LLC’s holdings in Comcast were worth $137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CMCSA. FMR LLC raised its position in shares of Comcast by 26.0% during the 2nd quarter. FMR LLC now owns 98,277,592 shares of the cable giant’s stock valued at $3,856,414,000 after acquiring an additional 20,251,251 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Comcast by 62.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after buying an additional 5,880,050 shares during the period. Parnassus Investments LLC grew its holdings in shares of Comcast by 18.7% in the 2nd quarter. Parnassus Investments LLC now owns 28,263,627 shares of the cable giant’s stock valued at $1,109,065,000 after buying an additional 4,457,024 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Comcast by 535.8% in the 1st quarter. Renaissance Technologies LLC now owns 4,754,976 shares of the cable giant’s stock valued at $222,628,000 after buying an additional 4,007,100 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Comcast in the 3rd quarter valued at $106,532,000. Institutional investors own 82.23% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $39.75 on Wednesday. The company’s 50 day moving average price is $36.12 and its two-hundred day moving average price is $35.42. Comcast Co. has a 12-month low of $28.39 and a 12-month high of $50.98. The firm has a market cap of $171.86 billion, a PE ratio of 34.57, a PEG ratio of 0.84 and a beta of 1.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.18.

Comcast (NASDAQ:CMCSAGet Rating) last announced its earnings results on Thursday, October 27th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Comcast had a net margin of 4.46% and a return on equity of 17.61%. The firm had revenue of $29.85 billion for the quarter, compared to analyst estimates of $29.68 billion. Equities research analysts predict that Comcast Co. will post 3.6 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, January 3rd. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. Comcast’s dividend payout ratio is 93.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Daiwa Capital Markets decreased their price target on shares of Comcast to $36.00 in a report on Tuesday, November 1st. Truist Financial raised shares of Comcast from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, January 5th. Cowen reduced their target price on shares of Comcast from $51.00 to $49.00 in a research note on Friday, October 28th. Scotiabank reduced their target price on shares of Comcast from $47.00 to $43.00 and set a “sector outperform” rating for the company in a research note on Monday, October 17th. Finally, Cowen reduced their target price on shares of Comcast from $51.00 to $49.00 in a research note on Friday, October 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $44.57.

About Comcast

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Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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