Main Street Research LLC Reduces Stake in Comcast Co. (NASDAQ:CMCSA)

Main Street Research LLC cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,711 shares of the cable giant’s stock after selling 800 shares during the period. Main Street Research LLC’s holdings in Comcast were worth $470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMCSA. NewSquare Capital LLC raised its holdings in Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its holdings in Comcast by 299.1% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 475,675 shares during the period. Fortis Capital Advisors LLC bought a new stake in Comcast during the fourth quarter valued at about $29,000. DHJJ Financial Advisors Ltd. bought a new stake in Comcast during the third quarter valued at about $33,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Comcast during the fourth quarter valued at about $34,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of CMCSA stock traded down $0.18 during mid-day trading on Tuesday, hitting $39.25. 8,934,364 shares of the stock were exchanged, compared to its average volume of 20,540,523. The firm has a fifty day moving average of $42.08 and a 200 day moving average of $42.83. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.14. Comcast Co. has a 52-week low of $36.38 and a 52-week high of $47.46. The company has a market cap of $155.90 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.96 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The firm had revenue of $31.25 billion during the quarter, compared to the consensus estimate of $30.41 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. Research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from Comcast’s previous quarterly dividend of $0.29. Comcast’s dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMCSA. BNP Paribas reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Tuesday, April 9th. Wells Fargo & Company dropped their price target on Comcast from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price target on shares of Comcast in a research report on Tuesday, March 26th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 10th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

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.