Successful Portfolios LLC Purchases 1,197 Shares of Comcast Co. (NASDAQ:CMCSA)

Successful Portfolios LLC boosted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,710 shares of the cable giant’s stock after acquiring an additional 1,197 shares during the quarter. Successful Portfolios LLC’s holdings in Comcast were worth $250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Comcast during the 4th quarter valued at $1,798,173,000. Moneta Group Investment Advisors LLC boosted its position in shares of Comcast by 121,265.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock valued at $892,799,000 after acquiring an additional 25,509,390 shares during the last quarter. Morgan Stanley increased its stake in Comcast by 15.2% in the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Comcast by 62.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after buying an additional 5,880,050 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Comcast by 229.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,369,912 shares of the cable giant’s stock valued at $264,670,000 after purchasing an additional 4,437,276 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity at Comcast

In other Comcast news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CMCSA shares. Rosenblatt Securities boosted their price target on Comcast from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, December 22nd. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Citigroup raised their price target on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Pivotal Research boosted their price target on Comcast from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Finally, Evercore ISI reissued an “outperform” rating and issued a $50.00 price target on shares of Comcast in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average price target of $49.68.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.28 during midday trading on Thursday, reaching $43.35. 19,376,180 shares of the company’s stock traded hands, compared to its average volume of 20,255,143. The company has a fifty day simple moving average of $43.09 and a two-hundred day simple moving average of $43.22. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $172.18 billion, a P/E ratio of 11.65, a PEG ratio of 0.97 and a beta of 0.98. Comcast Co. has a 1 year low of $36.38 and a 1 year high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The firm had revenue of $31.25 billion during the quarter, compared to analysts’ expectations of $30.41 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. Equities analysts predict that Comcast Co. will post 4.3 EPS for the current fiscal year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Comcast’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 2nd. Comcast’s payout ratio is 31.18%.

Comcast 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.