Miller Investment Management LP Sells 18,780 Shares of Comcast Corporation $CMCSA

Miller Investment Management LP reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 37.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,755 shares of the cable giant’s stock after selling 18,780 shares during the period. Miller Investment Management LP’s holdings in Comcast were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC boosted its position in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares in the last quarter. Avalon Trust Co lifted its stake in shares of Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Comcast during the 2nd quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new stake in Comcast during the 2nd quarter worth $31,000. Finally, Total Investment Management Inc. bought a new stake in Comcast during the 2nd quarter worth $33,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA opened at $31.63 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The company has a 50 day simple moving average of $29.78 and a two-hundred day simple moving average of $30.03. The company has a market capitalization of $113.80 billion, a PE ratio of 5.89, a P/E/G ratio of 2.44 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CMCSA has been the subject of several research reports. Evercore dropped their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. BNP Paribas Exane lowered shares of Comcast from a “neutral” rating to an “underperform” rating in a report on Tuesday. Barclays set a $28.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.90.

Comcast Company 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.