Martingale Asset Management L P Sells 102,865 Shares of Comcast Corporation $CMCSA

Martingale Asset Management L P lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,314 shares of the cable giant’s stock after selling 102,865 shares during the quarter. Martingale Asset Management L P’s holdings in Comcast were worth $12,474,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Comcast in the 4th quarter valued at about $2,498,626,000. Capital World Investors grew its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after buying an additional 24,166,881 shares during the period. Capital Research Global Investors grew its stake in shares of Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after buying an additional 21,958,603 shares during the period. State Street Corp grew its stake in shares of Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after buying an additional 7,917,335 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Comcast by 2,970.5% in the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock valued at $221,028,000 after buying an additional 7,153,895 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CMCSA. Citigroup raised their target price on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research note on Friday, April 24th. New Street Research reduced their target price on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Evercore raised their target price on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded Comcast to a “hold” rating in a research note on Saturday, March 14th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.56.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $24.50 on Friday. Comcast Corporation has a fifty-two week low of $23.13 and a fifty-two week high of $36.66. The stock has a market cap of $87.52 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 1.95 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50-day simple moving average is $26.32 and its 200 day simple moving average is $28.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.4%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

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.