McGlone Suttner Wealth Management Inc. Acquires 280 Shares of Comcast Co. (NASDAQ:CMCSA)

McGlone Suttner Wealth Management Inc. raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 8,401 shares of the cable giant’s stock after purchasing an additional 280 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Comcast were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its position in Comcast by 1.9% in the second quarter. State Street Corp now owns 160,119,465 shares of the cable giant’s stock worth $6,652,964,000 after acquiring an additional 2,952,552 shares in the last quarter. Morgan Stanley grew its position in Comcast by 15.2% in the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after acquiring an additional 7,084,451 shares in the last quarter. Norges Bank purchased a new stake in Comcast during the fourth quarter valued at about $1,798,173,000. Northern Trust Corp boosted its position in Comcast by 0.3% during the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock valued at $2,040,522,000 after buying an additional 141,874 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Comcast by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock valued at $1,245,022,000 after buying an additional 189,845 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Rosenblatt Securities increased their target price on shares of Comcast from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, December 22nd. Pivotal Research increased their target price on shares of Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Finally, Wells Fargo & Company increased their target price on shares of Comcast from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.68.

Insider Buying and Selling

In related news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

Comcast Stock Up 0.7 %

Shares of CMCSA traded up $0.28 on Thursday, hitting $43.35. 21,157,230 shares of the stock traded hands, compared to its average volume of 20,287,184. The company has a market capitalization of $172.18 billion, a PE ratio of 11.65, a P/E/G ratio of 0.97 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50 day simple moving average of $43.09 and a 200 day simple moving average of $43.22. Comcast Co. has a one year low of $36.38 and a one year high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The company had revenue of $31.25 billion during the quarter, compared to the consensus estimate of $30.41 billion. As a group, equities analysts forecast that Comcast Co. will post 4.3 earnings per share for the current fiscal year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $1.24 annualized dividend and a yield of 2.86%. This is a boost from Comcast’s previous quarterly dividend of $0.29. Comcast’s dividend payout ratio (DPR) is currently 31.18%.

About Comcast

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.