J.P. Marvel Investment Advisors LLC Acquires New Stake in Comcast Co. (NASDAQ:CMCSA)

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J.P. Marvel Investment Advisors LLC purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 115,040 shares of the cable giant’s stock, valued at approximately $5,186,000. Comcast makes up approximately 1.7% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 25th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Country Club Trust Company n.a. increased its holdings in Comcast by 2.4% in the second quarter. Country Club Trust Company n.a. now owns 13,805 shares of the cable giant’s stock worth $583,000 after purchasing an additional 330 shares in the last quarter. Welch & Forbes LLC increased its holdings in Comcast by 1.8% in the second quarter. Welch & Forbes LLC now owns 821,497 shares of the cable giant’s stock worth $34,733,000 after purchasing an additional 14,883 shares in the last quarter. Fagan Associates Inc. increased its holdings in Comcast by 9.2% in the second quarter. Fagan Associates Inc. now owns 6,210 shares of the cable giant’s stock worth $263,000 after purchasing an additional 524 shares in the last quarter. SevenBridge Financial Group LLC increased its holdings in Comcast by 0.6% in the second quarter. SevenBridge Financial Group LLC now owns 41,429 shares of the cable giant’s stock worth $1,752,000 after purchasing an additional 249 shares in the last quarter. Finally, Planning Directions Inc. increased its holdings in Comcast by 14.5% in the second quarter. Planning Directions Inc. now owns 16,032 shares of the cable giant’s stock worth $678,000 after purchasing an additional 2,032 shares in the last quarter. 82.64% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on CMCSA shares. Pivotal Research lifted their target price on Comcast from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wolfe Research set a $56.00 price objective on Comcast and gave the company a “buy” rating in a research note on Friday, October 25th. Benchmark started coverage on Comcast in a research note on Wednesday, September 25th. They issued a “buy” rating and a $64.00 price objective for the company. ValuEngine raised Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, Cfra set a $50.00 price objective on Comcast and gave the company a “buy” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.52.

Shares of NASDAQ:CMCSA traded down $0.14 during mid-day trading on Wednesday, hitting $43.51. 16,872,594 shares of the company traded hands, compared to its average volume of 17,833,455. The stock has a market cap of $200.85 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.18 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Comcast Co. has a 12-month low of $32.61 and a 12-month high of $47.27. The stock has a 50-day moving average price of $44.84 and a two-hundred day moving average price of $43.99.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 24th. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The company had revenue of $26.83 billion for the quarter, compared to analysts’ expectations of $26.77 billion. Comcast had a return on equity of 24.25% and a net margin of 11.45%. Comcast’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, analysts expect that Comcast Co. will post 3.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, January 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. Comcast’s payout ratio is 32.94%.

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

Comcast Profile

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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