Tocqueville Asset Management L.P. lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,696 shares of the cable giant’s stock after selling 3,905 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Comcast were worth $6,717,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Comcast by 1.0% during the 3rd quarter. BlackRock Inc. now owns 318,519,731 shares of the cable giant’s stock valued at $11,278,785,000 after acquiring an additional 3,046,799 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Comcast by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 150,105,437 shares of the cable giant’s stock valued at $5,315,234,000 after buying an additional 1,830,315 shares during the period. FMR LLC raised its holdings in Comcast by 10.2% in the 3rd quarter. FMR LLC now owns 123,314,475 shares of the cable giant’s stock valued at $4,366,565,000 after buying an additional 11,459,543 shares during the period. Alliancebernstein L.P. raised its holdings in Comcast by 17.6% in the 3rd quarter. Alliancebernstein L.P. now owns 36,684,340 shares of the cable giant’s stock valued at $1,298,992,000 after buying an additional 5,499,850 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Comcast by 5.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 33,508,018 shares of the cable giant’s stock valued at $1,186,519,000 after buying an additional 1,811,519 shares during the period. 79.99% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CMCSA opened at $37.41 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $175.93 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.03%. Comcast’s payout ratio is 36.89%.
In related news, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the sale, the executive vice president now directly owns 62,476 shares in the company, valued at $2,245,387.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now owns 74,644 shares in the company, valued at $2,648,369.12. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.
Several brokerages recently issued reports on CMCSA. Pivotal Research restated a “buy” rating on shares of Comcast in a report on Friday, August 10th. Wolfe Research began coverage on shares of Comcast in a report on Friday. They issued an “outperform” rating on the stock. MED began coverage on shares of Comcast in a report on Wednesday, October 24th. They issued a “buy” rating and a $43.00 price objective on the stock. They noted that the move was a valuation call. BidaskClub lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 8th. Finally, Moffett Nathanson restated a “neutral” rating and issued a $36.00 price objective on shares of Comcast in a report on Monday, September 24th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.61.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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