Lazard Asset Management LLC Reduces Holdings in Comcast Co. (CMCSA)

Lazard Asset Management LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,126,015 shares of the cable giant’s stock after selling 1,232,378 shares during the quarter. Lazard Asset Management LLC owned about 0.09% of Comcast worth $165,245,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CMCSA. Janus Henderson Group PLC raised its holdings in Comcast by 1,581.1% during the 2nd quarter. Janus Henderson Group PLC now owns 28,199,798 shares of the cable giant’s stock worth $1,097,544,000 after buying an additional 26,522,368 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Comcast during the 4th quarter worth about $650,219,000. Mackenzie Financial Corp raised its holdings in Comcast by 7,838.2% during the 4th quarter. Mackenzie Financial Corp now owns 10,694,977 shares of the cable giant’s stock worth $428,334,000 after buying an additional 10,560,249 shares during the period. Capital International Investors raised its holdings in Comcast by 23.3% during the 3rd quarter. Capital International Investors now owns 34,256,110 shares of the cable giant’s stock worth $1,318,175,000 after buying an additional 6,467,802 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Comcast by 42.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,074,529 shares of the cable giant’s stock worth $683,835,000 after buying an additional 5,100,430 shares during the period. Hedge funds and other institutional investors own 83.49% of the company’s stock.

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Several analysts have issued reports on the company. Pivotal Research restated a “buy” rating and set a $52.00 price objective on shares of Comcast in a report on Wednesday, January 24th. Nomura restated a “neutral” rating and set a $42.00 price objective (down previously from $45.00) on shares of Comcast in a report on Thursday, January 18th. Instinet downgraded Comcast from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $45.00 in a report on Thursday, January 18th. SunTrust Banks boosted their price objective on Comcast to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Guggenheim boosted their price objective on Comcast from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Comcast presently has an average rating of “Buy” and an average price target of $47.16.

NASDAQ:CMCSA opened at $34.12 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.74 and a current ratio of 0.74. Comcast Co. has a fifty-two week low of $32.74 and a fifty-two week high of $44.00. The stock has a market cap of $160,699.92, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $21.92 billion during the quarter, compared to analysts’ expectations of $21.83 billion. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. equities analysts forecast that Comcast Co. will post 2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 4th will be paid a $0.19 dividend. This is a boost from Comcast’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.23%. Comcast’s payout ratio is presently 36.89%.

In related news, EVP Arthur R. Block sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $35.60, for a total value of $87,967.60. Following the completion of the sale, the executive vice president now owns 62,988 shares of the company’s stock, valued at approximately $2,242,372.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen B. Burke sold 190,756 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $42.51, for a total value of $8,109,037.56. Following the completion of the sale, the executive vice president now directly owns 1,214,811 shares of the company’s stock, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. In the last three months, insiders sold 1,399,951 shares of company stock valued at $52,377,633. 1.28% of the stock is currently owned by company insiders.

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About Comcast

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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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