Procyon Advisors LLC Raises Stake in Comcast Co. (NASDAQ:CMCSA)

Procyon Advisors LLC raised its stake in Comcast Co. (NASDAQ:CMCSA) by 11.4% during the 4th quarter, HoldingsChannel reports. The firm owned 128,239 shares of the cable giant’s stock after acquiring an additional 13,165 shares during the quarter. Procyon Advisors LLC’s holdings in Comcast were worth $5,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CMCSA. State Street Corp boosted its position in Comcast by 1.9% during the 2nd quarter. State Street Corp now owns 160,119,465 shares of the cable giant’s stock valued at $6,652,964,000 after purchasing an additional 2,952,552 shares during the period. Morgan Stanley boosted its stake in Comcast by 15.2% in the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Norges Bank purchased a new stake in Comcast in the 4th quarter worth about $1,798,173,000. Northern Trust Corp lifted its position in shares of Comcast by 0.3% in the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock worth $2,040,522,000 after purchasing an additional 141,874 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Comcast by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock valued at $1,245,022,000 after buying an additional 189,845 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.4 %

Comcast stock traded up $0.19 during midday trading on Thursday, hitting $43.26. 1,542,957 shares of the company’s stock were exchanged, compared to its average volume of 19,956,611. Comcast Co. has a 12 month low of $36.38 and a 12 month high of $47.46. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $171.82 billion, a PE ratio of 11.58, a P/E/G ratio of 0.97 and a beta of 0.98. The firm has a 50-day moving average of $43.08 and a two-hundred day moving average of $43.22.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The company had revenue of $31.25 billion during the quarter, compared to the consensus estimate of $30.41 billion. As a group, analysts expect that Comcast Co. will post 4.3 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be issued a $0.31 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from Comcast’s previous quarterly dividend of $0.29. Comcast’s dividend payout ratio is currently 31.18%.

Insider Activity

In related news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Pivotal Research upped their target price on shares of Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Citigroup upped their price objective on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Comcast in a report on Tuesday. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Redburn Atlantic lowered Comcast from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.68.

Comcast Profile

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.