Neuberger Berman Group LLC Sells 195,815 Shares of Comcast Corporation $CMCSA

Neuberger Berman Group LLC cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 17.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 922,403 shares of the cable giant’s stock after selling 195,815 shares during the quarter. Neuberger Berman Group LLC’s holdings in Comcast were worth $28,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital A Wealth Management LLC increased its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after acquiring an additional 436 shares during the period. Avalon Trust Co grew its position in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Comcast during the 2nd quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast during the second quarter valued at about $31,000. Finally, Corsicana & Co. bought a new stake in shares of Comcast in the third quarter valued at about $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several research reports. TD Cowen lowered their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a report on Tuesday, February 24th. Zacks Research cut Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Scotiabank cut their target price on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research note on Friday, January 30th. Finally, Benchmark reduced their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.87.

Comcast Stock Up 1.0%

Shares of CMCSA opened at $31.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $29.96. The stock has a market cap of $114.81 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 2.49 and a beta of 0.79. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97.

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

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is currently 24.58%.

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.