Comcast Corporation $CMCSA Stock Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 99.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,575 shares of the cable giant’s stock after selling 4,173,521 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Comcast were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CMCSA. Bollard Group LLC increased its position in Comcast by 1.1% during the first quarter. Bollard Group LLC now owns 37,607 shares of the cable giant’s stock valued at $1,080,000 after acquiring an additional 405 shares during the last quarter. Foster Group Inc. lifted its holdings in Comcast by 5.7% in the second quarter. Foster Group Inc. now owns 8,595 shares of the cable giant’s stock valued at $211,000 after acquiring an additional 460 shares during the period. Smallwood Wealth Investment Management LLC lifted its holdings in Comcast by 6.7% in the third quarter. Smallwood Wealth Investment Management LLC now owns 7,375 shares of the cable giant’s stock valued at $160,000 after acquiring an additional 460 shares during the period. NFSG Corp boosted its position in Comcast by 12.4% in the first quarter. NFSG Corp now owns 4,202 shares of the cable giant’s stock worth $121,000 after purchasing an additional 463 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its position in Comcast by 5.0% in the first quarter. Center for Financial Planning Inc. now owns 10,081 shares of the cable giant’s stock worth $289,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMCSA. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $23.00 price target on shares of Comcast in a research report on Thursday, October 22nd. Bank of America reissued a “buy” rating and issued a $35.00 price objective (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Scotiabank dropped their price objective on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a report on Friday, October 2nd. Zacks Research lowered shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Finally, Moffett Nathanson cut their target price on shares of Comcast from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.77.

Comcast Stock Performance

NASDAQ:CMCSA opened at $24.51 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day simple moving average of $23.09 and a two-hundred day simple moving average of $25.97. The firm has a market capitalization of $87.04 billion, a PE ratio of 7.76, a P/E/G ratio of 1.75 and a beta of 0.72. Comcast Corporation has a 52-week low of $20.48 and a 52-week high of $32.85.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The firm had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same quarter last year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts forecast that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast’s dividend payout ratio is currently 41.77%.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.