Empire Life Investments Inc. Has $25.64 Million Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Empire Life Investments Inc. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 613,842 shares of the cable giant’s stock after selling 7,451 shares during the period. Comcast makes up approximately 1.6% of Empire Life Investments Inc.’s investment portfolio, making the stock its 21st largest holding. Empire Life Investments Inc.’s holdings in Comcast were worth $25,640,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Fairscale Capital LLC bought a new position in shares of Comcast in the 2nd quarter valued at about $26,000. McClarren Financial Advisors Inc. raised its stake in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the last quarter. Finally, Archer Investment Corp raised its position in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $43.56 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.11 and a beta of 1.01. The stock has a fifty day moving average price of $40.80 and a 200-day moving average price of $39.58.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data 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 12.46% and a return on equity of 20.17%. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Comcast’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Comcast Co. will post 4.24 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.85%. Comcast’s dividend payout ratio (DPR) is 32.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Macquarie restated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Friday. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price target on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $47.75 to $48.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.63.

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.