Global Endowment Management LP trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 94.8% during the third quarter, Holdings Channel reports. The fund owned 10,250 shares of the cable giant’s stock after selling 187,300 shares during the period. Global Endowment Management LP’s holdings in Comcast were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Comcast in the second quarter valued at $4,556,000. WoodTrust Financial Corp lifted its position in shares of Comcast by 17.4% in the second quarter. WoodTrust Financial Corp now owns 89,590 shares of the cable giant’s stock valued at $2,940,000 after acquiring an additional 13,302 shares in the last quarter. First Command Financial Services Inc. lifted its position in shares of Comcast by 66.4% in the second quarter. First Command Financial Services Inc. now owns 17,118 shares of the cable giant’s stock valued at $562,000 after acquiring an additional 6,828 shares in the last quarter. Unigestion Holding SA purchased a new stake in shares of Comcast in the second quarter valued at $20,313,000. Finally, Rothschild Investment Corp IL lifted its position in shares of Comcast by 31.6% in the second quarter. Rothschild Investment Corp IL now owns 17,045 shares of the cable giant’s stock valued at $559,000 after acquiring an additional 4,090 shares in the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.
Shares of NASDAQ:CMCSA opened at $37.51 on Friday. The stock has a market cap of $174.22 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.19 and a beta of 0.93. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Comcast Co. has a 12 month low of $30.43 and a 12 month high of $44.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 31st. This represents a $0.76 annualized dividend and a yield of 2.03%. Comcast’s dividend payout ratio is presently 36.89%.
In other news, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the sale, the executive vice president now owns 62,476 shares in the company, valued at $2,245,387.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the sale, the executive vice president now owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
CMCSA has been the topic of several recent research reports. BidaskClub upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Robert W. Baird reduced their price objective on Comcast from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Monday, July 30th. Pivotal Research restated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a research report on Monday, July 30th. Morgan Stanley began coverage on Comcast in a research note on Thursday, November 8th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, UBS Group lowered Comcast from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Nine research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.61.
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Comcast Company Profile
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.
Further Reading: Hedge Funds
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