CIBC Private Wealth Group LLC Has $62.23 Million Stake in Comcast Co. (NASDAQ:CMCSA)

CIBC Private Wealth Group LLC trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,674,064 shares of the cable giant’s stock after selling 68,152 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Comcast were worth $62,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Norges Bank bought a new position in Comcast in the 4th quarter valued at $3,835,226,000. First Eagle Investment Management LLC boosted its holdings in Comcast by 7.1% in the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock valued at $1,279,813,000 after acquiring an additional 2,270,186 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Comcast by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock worth $1,227,591,000 after purchasing an additional 838,366 shares during the period. Amundi raised its holdings in Comcast by 147.9% during the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Comcast during the 4th quarter valued at about $743,681,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $36.62 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $138.46 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. Comcast Co. has a one year low of $32.50 and a one year high of $45.31. The stock’s 50-day moving average is $35.89 and its 200-day moving average is $38.99.

Comcast (NASDAQ:CMCSA) last issued 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%. Equities analysts predict that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.60%. Comcast’s payout ratio is 31.81%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent research reports. Citigroup dropped their price target on shares of Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Scotiabank downgraded Comcast from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a research note on Friday, January 31st. Sanford C. Bernstein set a $38.00 target price on Comcast in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.64.

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.