Elevate Capital Advisors LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Elevate Capital Advisors LLC bought a new position in Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,754 shares of the cable giant’s stock, valued at approximately $1,079,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Comcast by 5.4% in the third 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 during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Comcast by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after buying an additional 416,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $1,268,310,000 after buying an additional 1,717,762 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Comcast by 5.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock valued at $667,620,000 after purchasing an additional 822,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Comcast by 4.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after purchasing an additional 676,920 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Down 0.3 %

Shares of NASDAQ CMCSA opened at $34.37 on Monday. The company has a market cap of $129.95 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The stock’s 50 day simple moving average is $37.71 and its 200 day simple moving average is $39.87. The company has a current ratio of 0.68, a quick ratio of 0.72 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.84%. This is a positive change from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio (DPR) is presently 29.88%.

Insider Activity

In related news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s 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 completion of the sale, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the topic of several analyst reports. KeyCorp lifted their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Barclays cut their price target on Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Pivotal Research raised their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and an average target price of $44.13.

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.