Davis Investment Partners LLC Takes $1.06 Million Position in Comcast Co. (NASDAQ:CMCSA)

Davis Investment Partners LLC bought a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the 4th quarter, Holdings Channel reports. The fund bought 29,123 shares of the cable giant’s stock, valued at approximately $1,059,000.

A number of other hedge funds have also added to or reduced their stakes in CMCSA. Federated Hermes Inc. grew its stake in Comcast by 4.5% in the second quarter. Federated Hermes Inc. now owns 311,153 shares of the cable giant’s stock valued at $12,185,000 after acquiring an additional 13,491 shares during the period. Parallel Advisors LLC increased its stake in Comcast by 0.8% during the 2nd quarter. Parallel Advisors LLC now owns 86,405 shares of the cable giant’s stock valued at $3,384,000 after purchasing an additional 658 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of Comcast by 60.8% in the second quarter. Thoroughbred Financial Services LLC now owns 57,314 shares of the cable giant’s stock valued at $2,244,000 after buying an additional 21,681 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of Comcast by 8.3% during the second quarter. Prosperity Consulting Group LLC now owns 15,251 shares of the cable giant’s stock valued at $597,000 after buying an additional 1,170 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of Comcast by 38.2% during the second quarter. J.W. Cole Advisors Inc. now owns 86,468 shares of the cable giant’s stock worth $3,386,000 after acquiring an additional 23,921 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

Shares of Comcast stock traded up $0.09 on Monday, reaching $36.45. The stock had a trading volume of 18,651,770 shares, compared to its average volume of 23,514,344. The business’s 50 day moving average is $40.69 and its two-hundred day moving average is $40.26. The company has a market cap of $139.48 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Comcast Co. has a 1 year low of $36.24 and a 1 year high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

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

Comcast Dividend Announcement

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 $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.40%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMCSA shares. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Comcast in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen cut their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock 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. Finally, Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.33.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of Comcast 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 transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

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.