Skba Capital Management LLC Sells 93,591 Shares of Comcast Corporation $CMCSA

Skba Capital Management LLC trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 32.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 197,740 shares of the cable giant’s stock after selling 93,591 shares during the quarter. Skba Capital Management LLC’s holdings in Comcast were worth $6,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CMCSA. BTS Asset Management Inc. lifted its position in Comcast by 70.9% in the third quarter. BTS Asset Management Inc. now owns 18,279 shares of the cable giant’s stock valued at $574,000 after purchasing an additional 7,584 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Comcast by 3.6% in the third quarter. Insigneo Advisory Services LLC now owns 26,929 shares of the cable giant’s stock worth $846,000 after buying an additional 933 shares during the period. FSA Advisors Inc. raised its holdings in Comcast by 5.5% during the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock valued at $226,000 after buying an additional 376 shares during the last quarter. South Dakota Investment Council grew its holdings in Comcast by 9.1% in the 3rd quarter. South Dakota Investment Council now owns 888,363 shares of the cable giant’s stock worth $27,912,000 after acquiring an additional 74,438 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Comcast by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 7,834,053 shares of the cable giant’s stock worth $246,146,000 after acquiring an additional 693,156 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Scotiabank dropped their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a report on Friday, January 30th. TD Cowen reduced their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. UBS Group decreased their target price on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, Barclays set a $28.00 price target on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Ten research 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. According to MarketBeat, Comcast currently has an average rating of “Hold” and an average price target of $34.87.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.01 on Wednesday. The company’s fifty day moving average price is $29.93 and its 200-day moving average price is $29.97. The stock has a market cap of $111.57 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion during 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%. Comcast’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. On average, equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. 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 payout ratio is presently 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on 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 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

Comcast 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.