Comcast Corporation $CMCSA Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its position in Comcast Corporation (NASDAQ:CMCSA) by 37.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 429,971 shares of the cable giant’s stock after selling 260,730 shares during the period. Intech Investment Management LLC’s holdings in Comcast were worth $13,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC raised its stake 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 boosted its position in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Comcast in the 2nd quarter valued at about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Comcast during the 2nd quarter worth about $31,000. Finally, Total Investment Management Inc. purchased a new stake in Comcast during the second quarter worth approximately $33,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CMCSA shares. KeyCorp lowered shares of Comcast from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 30th. Morgan Stanley lowered their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Williams Trading set a $40.00 price objective on shares of Comcast in a research note on Friday, October 31st. Finally, Moffett Nathanson dropped their price objective on Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.87.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $30.86 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $29.84 and a 200-day simple moving average of $30.04. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97. The stock has a market capitalization of $111.03 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

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.