McElhenny Sheffield Capital Management LLC Makes New $45,000 Investment in Comcast Co. (NASDAQ:CMCSA)

Posted by Defense World Staff on Mar 20th, 2023

McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,300 shares of the cable giant’s stock, valued at approximately $45,000.

Several other hedge funds have also recently modified their holdings of CMCSA. Vanguard Group Inc. boosted its stake in Comcast by 0.7% during the third quarter. Vanguard Group Inc. now owns 405,068,330 shares of the cable giant’s stock valued at $11,880,654,000 after buying an additional 2,987,515 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Comcast by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 102,801,153 shares of the cable giant’s stock valued at $3,015,159,000 after acquiring an additional 1,232,157 shares during the last quarter. FMR LLC grew its holdings in shares of Comcast by 26.0% in the second quarter. FMR LLC now owns 98,277,592 shares of the cable giant’s stock valued at $3,856,414,000 after purchasing an additional 20,251,251 shares in the last quarter. Dodge & Cox raised its stake in Comcast by 0.4% during the second quarter. Dodge & Cox now owns 85,157,816 shares of the cable giant’s stock valued at $3,341,593,000 after purchasing an additional 375,326 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Comcast by 0.5% during the second quarter. Northern Trust Corp now owns 50,045,135 shares of the cable giant’s stock valued at $1,963,772,000 after purchasing an additional 262,241 shares during the last quarter. Hedge funds and other institutional investors own 82.23% of the company’s stock.

Insider Transactions at Comcast

In other news, major shareholder Corp Comcast sold 1,977,877 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $3.27, for a total transaction of $6,467,657.79. Following the sale, the insider now owns 28,902,123 shares in the company, valued at $94,509,942.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,527,791 shares of company stock valued at $19,025,007 in the last quarter. 1.11% of the stock is currently owned by corporate insiders.

Comcast Trading Down 0.6 %

Shares of NASDAQ CMCSA opened at $36.03 on Monday. Comcast Co. has a 1-year low of $28.39 and a 1-year high of $48.42. The business has a fifty day moving average price of $38.18 and a 200 day moving average price of $35.09. The stock has a market capitalization of $151.90 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.78 and a quick ratio of 0.78.

Comcast (NASDAQ:CMCSA – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The cable giant reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Comcast had a net margin of 4.42% and a return on equity of 18.40%. The business had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $30.36 billion. During the same period last year, the business earned $0.77 EPS. The company’s revenue was up .7% compared to the same quarter last year. Equities research analysts expect that Comcast Co. will post 3.64 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, April 4th. This is a positive change from Comcast’s previous quarterly dividend of $0.27. Comcast’s dividend payout ratio is currently 90.76%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com assumed coverage on Comcast in a research report on Thursday. They issued a “buy” rating for the company. Cowen dropped their price target on shares of Comcast from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, January 27th. Rosenblatt Securities increased their price objective on shares of Comcast from $32.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. KGI Securities lowered Comcast from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 22nd. Finally, Barclays increased their price target on Comcast from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.29.

About Comcast

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Comcast Corp. engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand.