Van ECK Associates Corp Has $346 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Van ECK Associates Corp increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,890,552 shares of the cable giant’s stock after buying an additional 586,449 shares during the quarter. Van ECK Associates Corp’s holdings in Comcast were worth $346,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CMCSA. Everett Harris & Co. CA boosted its position in shares of Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after acquiring an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in shares of Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares during the last quarter. Altus Wealth Group LLC raised its holdings in shares of Comcast by 8.3% during the 4th quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after buying an additional 1,432 shares in the last quarter. PFG Advisors lifted its position in shares of Comcast by 28.8% during the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after buying an additional 5,159 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Comcast in the third quarter valued at about $8,868,000. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 0.7 %

CMCSA stock traded up $0.28 during midday trading on Monday, hitting $38.85. The stock had a trading volume of 14,665,014 shares, compared to its average volume of 20,884,555. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a market cap of $154.31 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. The business has a fifty day moving average price of $41.58 and a two-hundred day moving average price of $42.55. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CMCSA shares. Citigroup dropped their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Friday. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company reduced their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

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.