Renaissance Technologies LLC Reduces Stake in Comcast Corporation $CMCSA

Renaissance Technologies LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 88.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 788,376 shares of the cable giant’s stock after selling 5,772,200 shares during the period. Renaissance Technologies LLC’s holdings in Comcast were worth $22,634,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Comcast by 150.9% during 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 during the period. Voya Financial Advisors Inc. boosted its stake 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 worth $2,963,000 after acquiring an additional 2,593 shares during the last quarter. United Bank boosted its stake in shares of Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after acquiring an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $24.61 on Thursday. The stock has a 50-day moving average price of $23.75 and a 200 day moving average price of $27.17. The stock has a market capitalization of $87.91 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.98 and a beta of 0.67. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the company posted $1.25 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Comcast Corporation will post 3.5 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s payout ratio is 42.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CMCSA shares. The Goldman Sachs Group decreased their target price on Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Royal Bank Of Canada set a $26.00 price target on Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. Moffett Nathanson reduced their price target on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Finally, Morgan Stanley set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.96.

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.