Mystic Asset Management Inc. Takes Position in Comcast Co. (NASDAQ:CMCSA)

Mystic Asset Management Inc. purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,213 shares of the cable giant’s stock, valued at approximately $271,000.

Other institutional investors have also recently made changes to their positions in the company. Promus Capital LLC bought a new position in Comcast in the fourth quarter worth approximately $25,000. Winch Advisory Services LLC raised its position in Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after acquiring an additional 502 shares during the period. Safe Harbor Fiduciary LLC bought a new position in Comcast in the third quarter worth approximately $30,000. Roxbury Financial LLC bought a new position in Comcast in the fourth quarter worth approximately $27,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Comcast in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $36.01 on Wednesday. Comcast Co. has a 52 week low of $32.50 and a 52 week high of $45.31. The stock has a market capitalization of $136.15 billion, a P/E ratio of 8.68, a PEG ratio of 1.78 and a beta of 1.00. The firm has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $39.14. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

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

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 3.67%. Comcast’s payout ratio is currently 31.81%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Loop Capital decreased their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Citigroup decreased their price objective on shares of Comcast from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Scotiabank cut shares of Comcast from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. Nine equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

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.