Waterfront Wealth Inc. Increases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Waterfront Wealth Inc. grew its position in shares of Comcast Co. (NASDAQ:CMCSA) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,404 shares of the cable giant’s stock after purchasing an additional 1,421 shares during the period. Waterfront Wealth Inc.’s holdings in Comcast were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. World Investment Advisors LLC raised its position in shares of Comcast by 904.0% during the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after buying an additional 229,192 shares in the last quarter. Bfsg LLC boosted its holdings in shares of Comcast by 752.8% in the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after purchasing an additional 73,590 shares during the period. Robinson Value Management Ltd. increased its position in shares of Comcast by 136.7% during the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock valued at $3,842,000 after purchasing an additional 59,107 shares during the last quarter. Tidal Investments LLC raised its holdings in Comcast by 15.2% during the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after buying an additional 22,684 shares during the period. Finally, Private Management Group Inc. lifted its position in Comcast by 3.0% in the fourth quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock worth $32,118,000 after buying an additional 24,827 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated 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 sale, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of analyst reports. BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research report on Friday, January 31st. Pivotal Research raised their price target on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Rosenblatt Securities lowered their price objective on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Barclays reduced their target price on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, TD Cowen lowered their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.13.

Comcast Stock Performance

CMCSA stock opened at $36.26 on Friday. Comcast Co. has a one year low of $32.50 and a one year high of $45.31. The firm has a market cap of $137.08 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a 50-day simple moving average of $36.58 and a two-hundred day simple moving average of $39.58.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a $0.33 dividend. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.64%. Comcast’s dividend payout ratio (DPR) is presently 29.88%.

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.