Sawgrass Asset Management LLC Sells 423,289 Shares of Comcast Co. (CMCSA)

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.

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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.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, January 24th. The cable giant reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Comcast had a net margin of 26.87% and a return on equity of 16.47%. The company had revenue of $21.92 billion during the quarter, compared to analyst estimates of $21.83 billion. During the same period last year, the firm posted $0.89 EPS. Comcast’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts expect that Comcast Co. will post 2.5 EPS for the current year.

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.

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About Comcast

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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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