Pacer Advisors Inc. Trims Stock Position in Comcast Corporation $CMCSA

Pacer Advisors Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,071,352 shares of the cable giant’s stock after selling 1,606,518 shares during the quarter. Comcast accounts for about 0.6% of Pacer Advisors Inc.’s portfolio, making the stock its 20th largest holding. Pacer Advisors Inc. owned about 0.39% of Comcast worth $403,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. State Street Corp boosted its stake in shares of Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares in the last quarter. Capital World Investors boosted its position in Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Dodge & Cox increased its position in shares of Comcast by 0.4% in the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after buying an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

NASDAQ:CMCSA opened at $23.96 on Monday. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The stock has a market cap of $85.03 billion, a PE ratio of 7.75, a P/E/G ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $23.70 and a 200 day moving average price of $27.10.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities research analysts expect that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s payout ratio is presently 42.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMCSA shares. Weiss Ratings lowered shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $31.00 price target on shares of Comcast in a research report on Friday, July 24th. Moffett Nathanson cut their price objective on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Finally, Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.96.

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.