Comcast Corporation $CMCSA Shares Sold by Capital World Investors

Capital World Investors decreased its stake in Comcast Corporation (NASDAQ:CMCSA) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,176,518 shares of the cable giant’s stock after selling 12,638,145 shares during the quarter. Capital World Investors owned approximately 3.19% of Comcast worth $3,650,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after buying an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. grew its position in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank grew its position in shares of Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares during the period. Penserra Capital Management LLC increased its stake in shares of Comcast by 20.0% in the 2nd quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock valued at $2,928,000 after purchasing an additional 13,653 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Comcast in the 2nd quarter worth about $647,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred 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 transaction, the chief executive officer owned 622,336 shares in the company, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

Comcast Trading Down 2.7%

Shares of CMCSA opened at $31.04 on Tuesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The stock has a market cap of $111.68 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The firm’s fifty day moving average is $30.08 and its two-hundred day moving average is $29.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s dividend payout ratio is 24.58%.

Analyst Upgrades and Downgrades

Several analysts have commented on CMCSA shares. Sanford C. Bernstein dropped their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Benchmark decreased their target price on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Barclays set a $28.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. TD Cowen decreased their price objective on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.87.

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.