Comcast Co. (NASDAQ:CMCSA) Shares Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 263.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 45,790 shares of the cable giant’s stock after acquiring an additional 33,181 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Comcast were worth $1,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in shares of Comcast by 18.9% during the 3rd quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock valued at $34,810,000 after buying an additional 132,442 shares during the last quarter. Creative Planning raised its stake in shares of Comcast by 2.7% during the 3rd quarter. Creative Planning now owns 959,549 shares of the cable giant’s stock valued at $40,080,000 after buying an additional 24,968 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Comcast by 5.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 8,299 shares of the cable giant’s stock valued at $347,000 after buying an additional 459 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Comcast by 2.2% during the 3rd quarter. Global Retirement Partners LLC now owns 57,121 shares of the cable giant’s stock valued at $2,386,000 after buying an additional 1,226 shares during the last quarter. Finally, Stratos Investment Management LLC raised its stake in shares of Comcast by 7.5% during the 3rd quarter. Stratos Investment Management LLC now owns 25,799 shares of the cable giant’s stock valued at $1,078,000 after buying an additional 1,792 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 0.0 %

Shares of Comcast stock opened at $35.39 on Friday. The stock has a market cap of $133.81 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.69 and a beta of 1.00. The stock’s 50 day simple moving average is $36.93 and its 200-day simple moving average is $39.72. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Analysts predict that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s payout ratio is currently 29.88%.

Insider Transactions at Comcast

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMCSA. Citigroup reduced their price objective on Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Rosenblatt Securities cut their price target on Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Seaport Res Ptn upgraded Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Morgan Stanley cut their price target on Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Pivotal Research lifted their price target on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.13.

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.