Blume Capital Management Inc. Has $8.91 Million Position in Comcast Co. (NASDAQ:CMCSA)

Blume Capital Management Inc. raised its stake in Comcast Co. (NASDAQ:CMCSA) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,319 shares of the cable giant’s stock after purchasing an additional 3,025 shares during the period. Comcast accounts for approximately 2.0% of Blume Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Blume Capital Management Inc.’s holdings in Comcast were worth $8,907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. World Investment Advisors LLC lifted its position in Comcast by 904.0% during the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares during the period. Raymond James Financial Inc. bought a new stake in Comcast during the fourth quarter worth about $743,681,000. Bfsg LLC lifted its holdings in shares of Comcast by 752.8% in the fourth quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after acquiring an additional 73,590 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Comcast by 8.3% in the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock worth $1,633,000 after acquiring an additional 3,344 shares during the last quarter. Finally, Robinson Value Management Ltd. lifted its holdings in shares of Comcast by 136.7% in the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock worth $3,842,000 after acquiring an additional 59,107 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CMCSA shares. Citigroup dropped their target price on shares of Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 27th. Benchmark dropped their target price on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Bank of America lowered shares of Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $38.00 in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Stock Performance

Shares of CMCSA stock opened at $34.70 on Friday. The company has a market cap of $131.20 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. Comcast Co. has a 52 week low of $32.50 and a 52 week high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average of $35.96 and a 200-day moving average of $39.23.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities analysts forecast that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.80%. Comcast’s dividend payout ratio (DPR) is 31.81%.

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.