Welch & Forbes LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,022 shares of the cable giant’s stock after selling 22,528 shares during the quarter. Welch & Forbes LLC’s holdings in Comcast were worth $2,416,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. M&G PLC raised its holdings in Comcast by 1.2% during the third quarter. M&G PLC now owns 638,428 shares of the cable giant’s stock worth $14,045,000 after buying an additional 7,320 shares during the last quarter. Kestra Investment Management LLC lifted its stake in shares of Comcast by 12.4% in the third quarter. Kestra Investment Management LLC now owns 28,302 shares of the cable giant’s stock valued at $616,000 after buying an additional 3,132 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of Comcast by 2.6% during the third quarter. Private Management Group Inc. now owns 1,808,465 shares of the cable giant’s stock valued at $39,352,000 after buying an additional 45,016 shares during the last quarter. Joseph Group Capital Management grew its holdings in shares of Comcast by 74.2% during the third quarter. Joseph Group Capital Management now owns 1,519 shares of the cable giant’s stock valued at $33,000 after buying an additional 647 shares during the last quarter. Finally, Fulcrum Asset Management LLP grew its holdings in shares of Comcast by 865.6% during the third quarter. Fulcrum Asset Management LLP now owns 284,938 shares of the cable giant’s stock valued at $6,155,000 after buying an additional 255,430 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $31.00 target price on shares of Comcast in a research report on Monday, October 19th. UBS Group reaffirmed a “neutral” rating and issued a $27.00 price target (down from $32.00) on shares of Comcast in a research report on Tuesday, September 15th. Citigroup cut their price target on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, September 24th. Zacks Research lowered Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Finally, TD Cowen decreased their price objective on Comcast from $39.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.77.
Read Our Latest Report on CMCSA
Comcast Stock Performance
Shares of CMCSA stock opened at $24.75 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $23.05 and a 200-day moving average of $25.95. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85. The company has a market cap of $87.89 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.73 and a beta of 0.72.
Comcast (NASDAQ:CMCSA – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The business had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.22 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Comcast Corporation will post 3.54 EPS for the current fiscal year.
Comcast Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Comcast’s dividend payout ratio (DPR) is currently 41.77%.
About Comcast
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.
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