Bank of New York Mellon Corp Sells 1,339,111 Shares of Comcast Co. (NASDAQ:CMCSA)

Bank of New York Mellon Corp lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,131,459 shares of the cable giant’s stock after selling 1,339,111 shares during the period. Bank of New York Mellon Corp’s holdings in Comcast were worth $1,055,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMCSA. World Investment Advisors LLC grew its holdings in Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after acquiring an additional 229,192 shares during the last quarter. Bfsg LLC boosted its holdings in shares of Comcast by 752.8% during the fourth 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. grew its stake in shares of Comcast by 136.7% in the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock worth $3,842,000 after purchasing an additional 59,107 shares during the last quarter. Tidal Investments LLC increased 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 purchasing an additional 22,684 shares during the period. Finally, Private Management Group Inc. raised its position in Comcast by 3.0% during the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock valued at $32,118,000 after purchasing an additional 24,827 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $36.30 on Tuesday. The firm’s 50-day moving average price is $36.52 and its 200-day moving average price is $39.57. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The company has a market cap of $137.25 billion, a PE ratio of 8.75, a PEG ratio of 1.78 and a beta of 1.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, analysts anticipate that Comcast Co. will post 4.33 EPS for the current 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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is 31.81%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of research analyst reports. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday, January 31st. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Benchmark decreased their target price on Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group reduced their price target on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. 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. Based on data from MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

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.