Cohen Klingenstein LLC Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Cohen Klingenstein LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,994 shares of the cable giant’s stock after selling 32,702 shares during the period. Comcast comprises about 0.7% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 20th biggest holding. Cohen Klingenstein LLC’s holdings in Comcast were worth $21,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BTS Asset Management Inc. acquired a new position in Comcast in the fourth quarter valued at approximately $224,000. Verity & Verity LLC increased its stake in shares of Comcast by 11.8% in the fourth quarter. Verity & Verity LLC now owns 384,824 shares of the cable giant’s stock valued at $14,442,000 after purchasing an additional 40,616 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Comcast by 1.8% during the fourth quarter. Integrated Investment Consultants LLC now owns 16,581 shares of the cable giant’s stock worth $622,000 after buying an additional 291 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Comcast by 2.8% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 23,690 shares of the cable giant’s stock worth $889,000 after buying an additional 649 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. raised its stake in Comcast by 33.3% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 20,782 shares of the cable giant’s stock valued at $780,000 after acquiring an additional 5,190 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of several research analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Pivotal Research upped their price target on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen cut their target price on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Loop Capital lowered their price target on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

Insider Activity

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Trading Up 0.7 %

Shares of NASDAQ CMCSA opened at $36.58 on Friday. The company’s 50 day simple moving average is $40.11 and its 200 day simple moving average is $40.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $139.97 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.33 and a beta of 1.01. Comcast Co. has a fifty-two week low of $36.15 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter last year, the business posted $1.08 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that Comcast Co. will post 4.25 EPS for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.39%. Comcast’s dividend payout ratio is currently 33.33%.

Comcast Profile

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.