The Manufacturers Life Insurance Company Purchases 219,976 Shares of Comcast Co. (NASDAQ:CMCSA)

The Manufacturers Life Insurance Company boosted its position in Comcast Co. (NASDAQ:CMCSA) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,558,230 shares of the cable giant’s stock after purchasing an additional 219,976 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Comcast were worth $190,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of Comcast in the second quarter worth $26,000. McClarren Financial Advisors Inc. lifted its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after buying an additional 570 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in shares of Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 522 shares in the last quarter. IAG Wealth Partners LLC lifted its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $42.64 on Wednesday. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a fifty day moving average price of $42.13 and a 200-day moving average price of $40.11. The stock has a market cap of $163.16 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. Equities analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.91%. Comcast’s payout ratio is 33.33%.

Analysts Set New Price Targets

Several research firms recently commented on CMCSA. Deutsche Bank Aktiengesellschaft lifted their price objective on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday, November 19th. KeyCorp boosted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and an average price target of $47.19.

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.