Arbor Wealth Management LLC Raises Stake in Comcast Co. (NASDAQ:CMCSA)

Arbor Wealth Management LLC lifted its stake in Comcast Co. (NASDAQ:CMCSA) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 162,410 shares of the cable giant’s stock after purchasing an additional 5,296 shares during the quarter. Comcast comprises 3.8% of Arbor Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Arbor Wealth Management LLC’s holdings in Comcast were worth $7,321,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC grew its stake in Comcast by 1,088.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 40,918,884 shares of the cable giant’s stock worth $1,730,050,000 after buying an additional 37,474,814 shares during the last quarter. APG Asset Management N.V. grew its stake in Comcast by 89.7% during the 2nd quarter. APG Asset Management N.V. now owns 19,074,628 shares of the cable giant’s stock valued at $708,180,000 after purchasing an additional 9,020,100 shares during the last quarter. BlackRock Inc. grew its stake in Comcast by 2.7% during the 2nd quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock valued at $13,748,022,000 after purchasing an additional 8,635,296 shares during the last quarter. Vanguard Group Inc. grew its stake in Comcast by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 391,492,214 shares of the cable giant’s stock valued at $16,552,290,000 after purchasing an additional 7,792,136 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd purchased a new stake in Comcast during the 2nd quarter valued at about $305,744,000. 82.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Comcast stock traded down $0.14 during trading on Wednesday, hitting $43.51. 16,872,594 shares of the company were exchanged, compared to its average volume of 17,833,455. The firm has a 50 day moving average price of $44.80 and a 200 day moving average price of $44.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Comcast Co. has a fifty-two week low of $32.61 and a fifty-two week high of $47.27. The stock has a market capitalization of $200.85 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.18 and a beta of 1.05.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 24th. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $26.83 billion for the quarter, compared to analyst estimates of $26.77 billion. Comcast had a net margin of 11.45% and a return on equity of 24.25%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Analysts predict that Comcast Co. will post 3.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, January 7th. Comcast’s dividend payout ratio (DPR) is presently 32.94%.

Several analysts have weighed in on CMCSA shares. Bank of America set a $58.00 price target on Comcast and gave the company a “buy” rating in a research note on Wednesday, August 21st. Pivotal Research boosted their price objective on Comcast from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, September 26th. ValuEngine raised Comcast from a “strong sell” rating to a “sell” rating in a report on Tuesday. Wolfe Research set a $56.00 price objective on Comcast and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Citigroup upped their price target on Comcast from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.52.

In other Comcast news, Director Sheldon M. Bonovitz sold 5,600 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $45.47, for a total value of $254,632.00. Following the completion of the sale, the director now owns 27,912 shares in the company, valued at approximately $1,269,158.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian L. Roberts sold 508,248 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $44.98, for a total transaction of $22,860,995.04. Following the completion of the sale, the chief executive officer now owns 4,108,522 shares of the company’s stock, valued at approximately $184,801,319.56. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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