Exchange Capital Management Inc. Sells 29,090 Shares of Comcast Co. (NASDAQ:CMCSA)

Exchange Capital Management Inc. lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 19.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 117,880 shares of the cable giant’s stock after selling 29,090 shares during the period. Exchange Capital Management Inc.’s holdings in Comcast were worth $4,424,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AMF Tjanstepension AB grew its position in Comcast by 18.9% in the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock valued at $34,810,000 after purchasing an additional 132,442 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Comcast by 10.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 23,070 shares of the cable giant’s stock worth $964,000 after purchasing an additional 2,211 shares in the last quarter. Smith Salley Wealth Management raised its stake in Comcast by 1.3% in the 3rd quarter. Smith Salley Wealth Management now owns 26,323 shares of the cable giant’s stock worth $1,100,000 after purchasing an additional 337 shares in the last quarter. First Financial Bankshares Inc raised its position in shares of Comcast by 1.7% in the 3rd quarter. First Financial Bankshares Inc now owns 819,590 shares of the cable giant’s stock valued at $34,234,000 after buying an additional 13,418 shares in the last quarter. Finally, Hibernia Wealth Partners LLC acquired a new position in shares of Comcast in the 3rd quarter valued at approximately $203,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $36.30 on Tuesday. The company has a 50-day moving average price of $36.52 and a 200 day moving average price of $39.57. The stock has a market cap of $137.25 billion, a P/E ratio of 8.75, a PEG ratio of 1.78 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Sell-side analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The company also recently announced 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. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s payout ratio is presently 31.81%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a research report on Friday, January 31st. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Bank of America downgraded shares of Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $38.00 in a research note on Friday, January 31st. Morgan Stanley dropped their target price on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Barclays lowered their price objective on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Comcast currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

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.