Dimensional Fund Advisors LP Trims Stock Holdings in Comcast Corporation $CMCSA

Dimensional Fund Advisors LP reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,125,954 shares of the cable giant’s stock after selling 523,778 shares during the period. Dimensional Fund Advisors LP’s holdings in Comcast were worth $978,035,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CMCSA shares. Sanford C. Bernstein lowered their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th. Oppenheimer set a $38.00 price target on Comcast in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, January 30th. BNP Paribas Exane cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a research report on Tuesday, February 24th. Finally, Moffett Nathanson dropped their target price on shares of Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast has an average rating of “Hold” and a consensus price target of $34.87.

Comcast Stock Up 0.6%

Shares of CMCSA opened at $31.01 on Wednesday. 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 stock has a market capitalization of $111.57 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.79. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The business’s 50 day simple moving average is $29.93 and its 200-day simple moving average is $29.97.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

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.