Greenleaf Trust lowered its position in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 25.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,805 shares of the cable giant’s stock after selling 19,145 shares during the period. Greenleaf Trust’s holdings in Comcast were worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Dakota State Investment Board acquired a new stake in Comcast during the fourth quarter worth about $3,754,000. Inceptionr LLC acquired a new position in Comcast in the first quarter valued at approximately $660,000. Bank of America Corp DE boosted its position in Comcast by 10.2% in the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Comcast by 7.7% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock worth $21,487,000 after purchasing an additional 62,671 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of Comcast by 53.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock worth $6,161,000 after purchasing an additional 72,129 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CMCSA. Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Morgan Stanley set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. Sanford C. Bernstein restated a “market perform” rating and set a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Scotiabank set a $29.00 price objective on shares of Comcast in a report on Friday, July 24th. Finally, BNP Paribas Exane decreased their price objective on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.96.
Comcast Trading Down 1.6%
Shares of CMCSA stock opened at $26.62 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $94.46 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.54 and a beta of 0.67. The stock has a 50 day simple moving average of $24.56 and a 200-day simple moving average of $26.60. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45.
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that Comcast Corporation will post 3.52 EPS for the current fiscal year.
Comcast Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.
About Comcast
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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