Forsta AP Fonden Decreases Position in Comcast Corporation $CMCSA

Forsta AP Fonden trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 24.8% during the fourth quarter, HoldingsChannel reports. The firm owned 777,928 shares of the cable giant’s stock after selling 256,100 shares during the period. Forsta AP Fonden’s holdings in Comcast were worth $23,252,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in Comcast in the 4th quarter worth approximately $2,498,626,000. Eurizon Capital SGR S.p.A. purchased a new position in Comcast in the 4th quarter worth approximately $29,820,000. Hillsdale Investment Management Inc. lifted its stake in Comcast by 20.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 33,730 shares of the cable giant’s stock worth $1,008,000 after purchasing an additional 5,680 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new position in Comcast in the 4th quarter worth approximately $1,739,000. Finally, National Pension Service lifted its stake in Comcast by 7.9% in the 4th quarter. National Pension Service now owns 9,731,718 shares of the cable giant’s stock worth $272,507,000 after purchasing an additional 711,757 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of research reports. Royal Bank Of Canada raised their target price on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $29.00 target price on shares of Comcast in a research note on Thursday, April 23rd. BNP Paribas Exane decreased their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. New Street Research decreased their target price on shares of Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.79.

Comcast Stock Down 1.2%

Shares of NASDAQ CMCSA opened at $24.87 on Friday. The company has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $28.54. The company has a market capitalization of $88.84 billion, a P/E ratio of 4.90, a P/E/G ratio of 2.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a 1 year low of $24.53 and a 1 year high of $36.66.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, equities research analysts predict that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

Comcast 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.