Comcast Corporation $CMCSA Stock Sold by Profund Advisors LLC

Profund Advisors LLC cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,518 shares of the cable giant’s stock after selling 30,760 shares during the period. Profund Advisors LLC’s holdings in Comcast were worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Douglas Lane & Associates LLC lifted its stake in shares of Comcast by 16.6% in the third quarter. Douglas Lane & Associates LLC now owns 2,549,714 shares of the cable giant’s stock worth $55,482,000 after acquiring an additional 363,552 shares during the period. Saudi Central Bank raised its stake in Comcast by 87.2% in the second quarter. Saudi Central Bank now owns 251,190 shares of the cable giant’s stock worth $6,167,000 after buying an additional 117,038 shares in the last quarter. Nykredit A S purchased a new position in Comcast in the second quarter worth about $137,515,000. Inceptionr LLC bought a new position in Comcast in the first quarter worth approximately $660,000. Finally, Bank of America Corp DE boosted its holdings in shares of Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMCSA. Citigroup reduced their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, September 24th. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. Raymond James Financial reissued a “market perform” rating on shares of Comcast in a report on Friday, October 2nd. Freedom Broker decreased their target price on Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Finally, Weiss Ratings cut shares of Comcast from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.17.

Comcast Stock Performance

Shares of CMCSA opened at $23.22 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85. The business has a fifty day moving average of $23.40 and a 200 day moving average of $26.09. The firm has a market capitalization of $82.45 billion, a P/E ratio of 7.35, a PEG ratio of 1.64 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.7%. Comcast’s dividend payout ratio is currently 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.