Everence Capital Management Inc. Lowers Holdings in Comcast Co. (NASDAQ:CMCSA)

Everence Capital Management Inc. reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,200 shares of the cable giant’s stock after selling 21,530 shares during the period. Everence Capital Management Inc.’s holdings in Comcast were worth $4,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CMCSA. NewSquare Capital LLC boosted its position in shares of Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after buying an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 475,675 shares in the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Comcast in the fourth quarter valued at $29,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Comcast in the third quarter valued at $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Comcast in the fourth quarter valued at $34,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock traded down $0.31 during trading on Tuesday, hitting $39.12. 18,890,691 shares of the company were exchanged, compared to its average volume of 20,607,814. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.14. Comcast Co. has a fifty-two week low of $36.38 and a fifty-two week high of $47.46. The stock has a market capitalization of $155.38 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.96 and a beta of 0.98. The firm has a 50 day moving average price of $42.08 and a 200 day moving average price of $42.83.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. The company had revenue of $31.25 billion during the quarter, compared to the consensus estimate of $30.41 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. On average, equities analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 3.17%. Comcast’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Rosenblatt Securities increased their price objective on Comcast from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, December 22nd. Citigroup lifted their target price on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Evercore ISI reiterated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Finally, BNP Paribas reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and an average target price of $49.50.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company’s stock.

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.