Colrain Capital LLC Acquires 109,700 Shares of Comcast Corporation $CMCSA

Colrain Capital LLC increased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 99.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,425 shares of the cable giant’s stock after buying an additional 109,700 shares during the period. Comcast accounts for 3.9% of Colrain Capital LLC’s holdings, making the stock its 11th largest position. Colrain Capital LLC’s holdings in Comcast were worth $6,926,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMCSA. Norges Bank bought a new stake in shares of Comcast during the 2nd quarter valued at $3,528,361,000. Dodge & Cox raised its stake in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. First Trust Advisors LP lifted its position in Comcast by 133.1% during the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after purchasing an additional 5,817,614 shares during the period. Worldquant Millennium Advisors LLC grew its stake in Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after buying an additional 4,240,876 shares in the last quarter. Finally, State Street Corp grew its stake in Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after buying an additional 4,231,140 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, October 31st. KeyCorp cut Comcast from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target (down previously from $39.00) on shares of Comcast in a research note on Friday, October 31st. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Moffett Nathanson reduced their price objective on Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.90.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% of the company’s stock.

Comcast Trading Down 0.8%

Shares of CMCSA stock opened at $31.57 on Tuesday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97. The stock’s fifty day simple moving average is $29.37 and its 200 day simple moving average is $30.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $113.58 billion, a P/E ratio of 5.88, a P/E/G ratio of 2.41 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is 24.58%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.