Shorepoint Capital Partners LLC Grows Stake in Comcast Co. (NASDAQ:CMCSA)

Shorepoint Capital Partners LLC increased its stake in Comcast Co. (NASDAQ:CMCSA) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 120,101 shares of the cable giant’s stock after acquiring an additional 1,763 shares during the period. Shorepoint Capital Partners LLC’s holdings in Comcast were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Promus Capital LLC purchased a new stake in shares of Comcast during the fourth quarter worth $25,000. Winch Advisory Services LLC lifted its holdings in shares of Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after buying an additional 502 shares in the last quarter. Roxbury Financial LLC purchased a new position in Comcast during the fourth quarter valued at approximately $27,000. Wingate Wealth Advisors Inc. bought a new stake in Comcast during the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management purchased a new stake in Comcast in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of Comcast stock opened at $33.90 on Friday. The company has a market cap of $128.18 billion, a PE ratio of 8.17, a P/E/G ratio of 1.78 and a beta of 0.94. The business has a 50 day moving average of $35.35 and a 200 day moving average of $38.05. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31. 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 released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, equities research analysts forecast that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, April 2nd. This is a positive change from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.89%. Comcast’s payout ratio is currently 31.81%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research analyst reports. Rosenblatt Securities dropped their price objective on Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a research note on Friday. Barclays decreased their price target on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group cut their target price on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.98.

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.