PNC Financial Services Group Inc. decreased its position in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 12.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,316,492 shares of the cable giant’s stock after selling 722,291 shares during the period. PNC Financial Services Group Inc.’s holdings in Comcast were worth $158,910,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after purchasing an additional 10,633,206 shares during the period. State Street Corp grew its stake in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after purchasing an additional 7,917,335 shares during the period. SG Americas Securities LLC increased its holdings in Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after purchasing an additional 7,153,895 shares in the last quarter. Two Sigma Investments LP increased its holdings in Comcast by 1,356.2% in the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after purchasing an additional 6,105,867 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in Comcast by 554.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock valued at $178,634,000 after buying an additional 4,240,876 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CMCSA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a report on Saturday, March 14th. Morgan Stanley lifted their price target on shares of Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, BNP Paribas Exane dropped their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.79.
Comcast Price Performance
Shares of NASDAQ:CMCSA opened at $24.88 on Thursday. Comcast Corporation has a twelve month low of $24.53 and a twelve month high of $36.66. The stock’s 50 day moving average is $27.96 and its 200-day moving average is $28.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $88.88 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 1.99 and a beta of 0.71.
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Comcast’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Comcast Corporation will post 3.58 EPS for the current fiscal year.
Comcast Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Comcast’s payout ratio is presently 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.
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