Range Financial Group LLC Acquires New Shares in Comcast Co. (NASDAQ:CMCSA)

Range Financial Group LLC bought a new position in Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,532 shares of the cable giant’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. World Investment Advisors LLC boosted its holdings in Comcast by 904.0% in the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Comcast by 15.2% in the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after buying an additional 22,684 shares during the last quarter. Parnassus Investments LLC boosted its stake in shares of Comcast by 3.7% during the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock worth $80,232,000 after acquiring an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Comcast by 0.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after acquiring an additional 15,807 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in Comcast by 3,816.0% in the 2nd quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock worth $21,866,000 after purchasing an additional 544,123 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 0.8 %

Shares of Comcast stock opened at $37.18 on Wednesday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The firm has a market capitalization of $142.27 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $41.06 and its two-hundred day moving average price is $40.29.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts expect that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.34%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Analysts Set New Price Targets

CMCSA has been the topic of several analyst reports. Loop Capital lowered their price target on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Macquarie reiterated a “neutral” rating and issued a $42.00 price objective on shares of Comcast in a research note on Monday. Finally, Wells Fargo & Company cut their price objective on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

Comcast Company 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.