Summit Global Investments Has $1.44 Million Stock Position in Comcast Co. (NASDAQ:CMCSA)

Summit Global Investments boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 112.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,310 shares of the cable giant’s stock after buying an additional 20,272 shares during the period. Summit Global Investments’ holdings in Comcast were worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. McIlrath & Eck LLC increased its holdings in Comcast by 14.8% during the 3rd quarter. McIlrath & Eck LLC now owns 2,183 shares of the cable giant’s stock worth $91,000 after purchasing an additional 282 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of Comcast by 54.8% in the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock worth $34,000 after buying an additional 288 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Comcast by 1.8% in the 4th 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 last quarter. Five Oceans Advisors boosted its stake in shares of Comcast by 2.5% in the 4th quarter. Five Oceans Advisors now owns 12,336 shares of the cable giant’s stock worth $463,000 after buying an additional 298 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of Comcast by 1.1% in the 4th quarter. Kovack Advisors Inc. now owns 26,470 shares of the cable giant’s stock worth $993,000 after buying an additional 300 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities cut their target price on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group cut their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Benchmark cut their target price on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Scotiabank downgraded Comcast from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Comcast Trading Up 0.7 %

NASDAQ:CMCSA opened at $36.75 on Friday. The company has a market cap of $138.95 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.78 and a beta of 1.00. The stock’s fifty day moving average price is $35.83 and its two-hundred day moving average price is $39.07. Comcast Co. has a 1 year low of $32.50 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, analysts expect that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.59%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is presently 31.81%.

About Comcast

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.