Summit Global Investments Cuts Position in Comcast Corporation $CMCSA

Summit Global Investments decreased its stake in Comcast Corporation (NASDAQ:CMCSA) by 45.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,752 shares of the cable giant’s stock after selling 23,600 shares during the period. Summit Global Investments’ holdings in Comcast were worth $825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% in 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 period. United Bank increased its stake in Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares in the last quarter. HUB Investment Partners LLC increased its stake in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after purchasing an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after purchasing an additional 15,865 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of research analyst reports. 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 research report on Thursday, July 2nd. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Royal Bank Of Canada decreased their price objective on shares of Comcast from $32.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.45.

More Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Universal Pictures’ The Odyssey delivered a strong global opening, highlighting a bright spot for Comcast’s media business and showing that the company can still produce major box-office hits. Article: Comcast’s Universal Pictures Nets $264.1 Million Global Opening for ‘The Odyssey’
• Positive Sentiment: The film’s strong premium-theater performance and IMAX-related enthusiasm suggest some support for Comcast’s entertainment segment and broader recovery hopes. Article: IMAX, CMCSA Rise Premarket: Christopher Nolan’s ‘The Odyssey’ Notches Epic Box Office Opening
• Neutral Sentiment: Analysts are focusing on Comcast’s Q2 report for signs of stabilization in broadband, media, and theme parks, with investors waiting to see whether core business pressures are easing. Article: Comcast Gears Up to Report Q2 Earnings: What’s in the Cards?
• Neutral Sentiment: Comcast is also getting broader market attention, but this appears to be more of a visibility story than a fundamental shift. Article: Comcast (NASDAQ:CMCSA) Draws Fresh Nasdaq Composite Attention
• Negative Sentiment: Comcast’s broadband business remains under pressure and is the main reason investors are not rewarding the stock more for the movie success, since it is still seen as the key earnings risk ahead of results. Article: Why ‘The Odyssey’ Box Office Success Isn’t Lifting Comcast Stock
• Negative Sentiment: Royal Bank of Canada cut its price target on CMCSA from $32 to $27, signaling more cautious expectations for the stock even while maintaining a sector perform rating. Article: Comcast price target lowered by Royal Bank Of Canada

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $23.81 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average price is $23.96 and its two-hundred day moving average price is $27.40. The stock has a market cap of $85.05 billion, a PE ratio of 4.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. Comcast Corporation has a one year low of $22.13 and a one year high of $36.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

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.