Sawgrass Asset Management LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 28.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,052,512 shares of the cable giant’s stock after selling 423,289 shares during the period. Comcast comprises about 1.9% of Sawgrass Asset Management LLC’s portfolio, making the stock its 23rd largest position. Sawgrass Asset Management LLC’s holdings in Comcast were worth $42,153,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CMCSA. State of Tennessee Treasury Department boosted its holdings in shares of Comcast by 24.7% in the 4th quarter. State of Tennessee Treasury Department now owns 3,765,705 shares of the cable giant’s stock valued at $150,817,000 after buying an additional 745,764 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Comcast by 4.0% in the 4th quarter. First Republic Investment Management Inc. now owns 1,916,442 shares of the cable giant’s stock valued at $76,753,000 after buying an additional 74,210 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of Comcast by 12.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,866,434 shares of the cable giant’s stock valued at $194,901,000 after buying an additional 547,973 shares in the last quarter. Alexandria Capital LLC boosted its holdings in shares of Comcast by 8,168.8% in the 4th quarter. Alexandria Capital LLC now owns 256,581 shares of the cable giant’s stock valued at $10,240,000 after buying an additional 253,478 shares in the last quarter. Finally, Timber Hill LLC bought a new stake in shares of Comcast in the 4th quarter valued at about $3,729,000. Institutional investors own 83.49% of the company’s stock.
CMCSA opened at $34.17 on Monday. Comcast Co. has a 12-month low of $32.74 and a 12-month high of $44.00. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.86. The company has a market cap of $158,702.80, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.24 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a positive change from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a yield of 2.22%. Comcast’s dividend payout ratio (DPR) is currently 30.58%.
A number of analysts have recently weighed in on the stock. TD Securities lowered their price target on shares of Comcast from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday. Nomura restated a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Comcast in a report on Thursday, January 18th. Cowen assumed coverage on shares of Comcast in a report on Monday, March 26th. They issued a “market perform” rating and a $39.00 price target on the stock. Scotiabank set a $52.00 price target on shares of Comcast and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Pivotal Research restated a “buy” rating and issued a $52.00 price target on shares of Comcast in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.76.
In other news, EVP Arthur R. Block sold 10,870 shares of Comcast stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $33.49, for a total transaction of $364,036.30. Following the completion of the transaction, the executive vice president now directly owns 85,418 shares of the company’s stock, valued at approximately $2,860,648.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arthur R. Block sold 6,358 shares of Comcast stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $33.69, for a total transaction of $214,201.02. Following the transaction, the executive vice president now directly owns 72,758 shares of the company’s stock, valued at $2,451,217.02. The disclosure for this sale can be found here. Insiders have sold a total of 1,399,951 shares of company stock valued at $52,377,633 over the last three months. 1.28% of the stock is currently owned by insiders.
TRADEMARK VIOLATION WARNING: “Sawgrass Asset Management LLC Sells 423,289 Shares of Comcast Co. (CMCSA)” was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.wkrb13.com/2018/04/02/sawgrass-asset-management-llc-sells-423289-shares-of-comcast-co-cmcsa.html.
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.
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.