M&G PLC Decreases Stake in Comcast Corporation $CMCSA

M&G PLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,073 shares of the cable giant’s stock after selling 96,079 shares during the period. M&G PLC’s holdings in Comcast were worth $11,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cape Investment Advisory Inc. increased its holdings in shares of Comcast by 2.6% in the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock valued at $438,000 after purchasing an additional 307 shares in the last quarter. Coign Capital Advisors LLC increased its holdings in Comcast by 2.1% in the second quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock valued at $568,000 after buying an additional 324 shares in the last quarter. OneAscent Family Office LLC lifted its position in shares of Comcast by 4.9% during the 2nd quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock valued at $252,000 after acquiring an additional 332 shares during the period. Titleist Asset Management LLC boosted its stake in shares of Comcast by 4.7% during the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after acquiring an additional 342 shares in the last quarter. Finally, Lakeshore Capital Group Inc. boosted its stake in shares of Comcast by 2.6% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after acquiring an additional 343 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of several research reports. Moffett Nathanson lowered their price target on shares of Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Sanford C. Bernstein lowered their target price on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. KeyCorp cut Comcast from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 30th. Evercore reduced their price objective on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.90.

Comcast Stock Down 0.8%

Shares of NASDAQ:CMCSA opened at $31.57 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $113.58 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 2.41 and a beta of 0.81. The stock’s 50-day moving average price is $29.37 and its two-hundred day moving average price is $30.06. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s payout ratio is 24.58%.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.26% of the company’s stock.

Comcast Company Profile

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.