ICICI Prudential Asset Management Co Ltd Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

ICICI Prudential Asset Management Co Ltd trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,525 shares of the cable giant’s stock after selling 48,123 shares during the period. Comcast comprises about 1.2% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 14th largest position. ICICI Prudential Asset Management Co Ltd’s holdings in Comcast were worth $10,978,000 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. FMR LLC lifted its holdings in Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after purchasing an additional 6,062,658 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Comcast by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after acquiring an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Comcast by 6.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after acquiring an additional 1,717,762 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of Comcast by 5.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after acquiring an additional 822,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Comcast by 4.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after acquiring an additional 676,920 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Comcast stock opened at $36.35 on Wednesday. The stock has a market cap of $137.42 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $36.79 and a 200-day moving average of $39.64. Comcast Co. has a 52 week low of $32.50 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating 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%. On average, analysts expect that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.63%. Comcast’s dividend payout ratio (DPR) is 29.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMCSA shares. Loop Capital cut their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Scotiabank lowered shares of Comcast from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $48.00 to $44.50 in a report on Monday, February 3rd. Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays dropped their target price on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Benchmark dropped their target price on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.13.

Insider Buying and Selling

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 6,669,928 shares in the company, 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 can be accessed through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction 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 sale, the president now 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 currently owned by company insiders.

About Comcast

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.