Mill Capital Management LLC Reduces Holdings in Comcast Corporation $CMCSA

Mill Capital Management LLC reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,777 shares of the cable giant’s stock after selling 36,971 shares during the quarter. Mill Capital Management LLC’s holdings in Comcast were worth $4,329,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. State Street Corp lifted its holdings in shares of Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Capital World Investors lifted its holdings 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 purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox boosted its position in shares of Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after purchasing an additional 399,596 shares during the period. Finally, Geode Capital Management LLC grew its stake in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Down 3.3%

NASDAQ:CMCSA opened at $23.19 on Wednesday. Comcast Corporation has a 12-month low of $22.13 and a 12-month high of $36.01. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $24.14 and its 200-day simple moving average is $27.61. The firm has a market cap of $82.84 billion, a P/E ratio of 4.56, a PEG ratio of 1.98 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts anticipate that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMCSA shares. Royal Bank Of Canada lifted their price target on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. The Goldman Sachs Group lowered their target price on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Moffett Nathanson reduced their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Finally, Morgan Stanley decreased their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.77.

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.