Modern Wealth Management LLC Raises Holdings in Comcast Co. (NASDAQ:CMCSA)

Modern Wealth Management LLC increased its position in Comcast Co. (NASDAQ:CMCSA) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,053 shares of the cable giant’s stock after buying an additional 1,241 shares during the period. Modern Wealth Management LLC’s holdings in Comcast were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its position in shares of Comcast by 7.1% during the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock valued at $1,279,813,000 after buying an additional 2,270,186 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Comcast by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock worth $1,227,591,000 after acquiring an additional 838,366 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Comcast by 6.0% during the third 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 purchasing an additional 1,717,762 shares during the period. Amundi lifted its stake in shares of Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after purchasing an additional 14,369,056 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Comcast in the 4th quarter worth approximately $743,681,000. 84.32% of the stock is owned by institutional investors.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $37.37 on Friday. The stock has a market capitalization of $141.30 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 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. The stock’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $39.01.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, topping 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%. As a group, analysts expect that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently announced 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 is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. Comcast’s dividend payout ratio is presently 31.81%.

Analyst Ratings Changes

CMCSA has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Loop Capital cut their price target on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. The Goldman Sachs Group decreased their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.64.

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.