RWC Asset Management LLP decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,600,472 shares of the cable giant’s stock after selling 46,103 shares during the quarter. Comcast accounts for approximately 5.3% of RWC Asset Management LLP’s holdings, making the stock its 5th biggest position. RWC Asset Management LLP’s holdings in Comcast were worth $143,626,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Comcast by 0.9% during the third quarter. Fifth Third Wealth Advisors LLC now owns 73,053 shares of the cable giant’s stock worth $1,590,000 after purchasing an additional 670 shares during the period. XXI Wealth LLC grew its position in Comcast by 48.1% during the third quarter. XXI Wealth LLC now owns 24,519 shares of the cable giant’s stock valued at $534,000 after purchasing an additional 7,966 shares in the last quarter. Yousif Capital Management LLC increased its stake in Comcast by 3.0% in the 3rd quarter. Yousif Capital Management LLC now owns 450,242 shares of the cable giant’s stock valued at $9,797,000 after buying an additional 13,007 shares during the period. River Street Advisors LLC increased its stake in Comcast by 5.9% in the 3rd quarter. River Street Advisors LLC now owns 14,235 shares of the cable giant’s stock valued at $310,000 after buying an additional 798 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in Comcast in the 3rd quarter valued at approximately $77,000. 84.32% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Comcast
Here are the key news stories impacting Comcast this week:
- Positive Sentiment: Comcast reported third-quarter adjusted earnings of $1.07 per share, above the roughly $0.99 analyst consensus, while revenue of $29.3 billion was broadly in line with expectations. Wireless growth, improved Peacock profitability and strong film performance helped offset weakness elsewhere. Comcast beats earnings expectations as media revenue offsets weakness in connectivity
- Positive Sentiment: Management said approximately 70% of wireless trial lines converted to paid accounts, indicating that the wireless business may be gaining traction as Comcast seeks to diversify beyond broadband. Peacock also reached profitability, supporting momentum ahead of the planned NBCUniversal spinoff. Comcast: 3 Key Takeaways for Long-Term Investors
- Neutral Sentiment: Comcast declared a quarterly dividend of $0.33 per share, or $1.32 annually, offering an approximately 5.8% yield based on the reported share price. The payout may appeal to income-oriented investors, although the yield also reflects broader concerns about the stock’s growth outlook. Comcast Declares Quarterly Dividend
- Neutral Sentiment: The proposed separation of NBCUniversal from Comcast’s broadband, pay-TV and wireless operations could unlock value by allowing each business to pursue a more focused strategy. However, execution and the final structure of the transaction remain important uncertainties. Comcast Co-CEO Brian Roberts Touts Staffers’ Energy and Excitement About Pending NBCUniversal Split
- Negative Sentiment: Domestic broadband and video subscriber losses continued, with satellite and other competitors intensifying pressure on Comcast’s core connectivity business. Revenue fell about 6% year over year, and adjusted earnings declined from the prior-year quarter despite the EPS beat. Comcast broadband losses deepen as competition pressures core business
- Negative Sentiment: Comcast expects a fourth-quarter restructuring charge exceeding $1 billion, including layoffs, as it overhauls its connectivity operations. Analysts including TD Cowen, Goldman Sachs and Citi lowered price targets, underscoring investor concern that broadband weakness may persist. Comcast Flags $1 Billion Q4 Charge for Layoffs and Restructuring
Comcast Stock Down 0.7%
Shares of CMCSA traded down $0.15 during trading hours on Friday, hitting $22.69. 31,333,087 shares of the company were exchanged, compared to its average volume of 31,472,736. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.80 and a current ratio of 0.82. The company has a market cap of $80.52 billion, a PE ratio of 7.18, a PEG ratio of 1.64 and a beta of 0.68. The firm’s 50 day moving average is $23.80 and its 200-day moving average is $24.63. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85.
Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same period last year, the business earned $1.12 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corporation will post 3.49 EPS for the current fiscal year.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.8%. The ex-dividend date is Wednesday, January 6th. Comcast’s dividend payout ratio (DPR) is 42.72%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. KeyCorp downgraded shares of Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research report on Thursday, September 24th. Citigroup lowered their price target on shares of Comcast from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Thursday, September 24th. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the stock an “underweight” rating in a research note on Friday, July 24th. Morgan Stanley cut their price objective on Comcast from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, September 25th. Finally, Scotiabank cut their price objective on Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a report on Friday, October 2nd. Eleven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.58.
Read Our Latest Analysis on CMCSA
Comcast Company Profile
Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.
Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.
Featured Stories
- Five stocks we like better than Comcast
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
- Chefs’ Warehouse Has Rallied 76%—Can the Stock Keep Climbing?
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA – Free Report).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.
