Pacer Advisors Inc. Trims Stake in Comcast Corporation $CMCSA

Pacer Advisors Inc. lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,104,510 shares of the cable giant’s stock after selling 524,436 shares during the quarter. Comcast comprises approximately 1.0% of Pacer Advisors Inc.’s portfolio, making the stock its 24th biggest position. Pacer Advisors Inc. owned 0.35% of Comcast worth $411,744,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC raised its holdings in Comcast by 173.7% in the 2nd 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. Global Trust Asset Management LLC raised its stake in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the period. Cranbrook Wealth Management LLC lifted its position in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares in the last quarter. Avalon Trust Co grew its stake 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 acquiring an additional 624 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in Comcast in the 1st quarter worth approximately $29,000. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Sanford C. Bernstein dropped their target price on shares of Comcast from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, October 31st. Royal Bank Of Canada decreased their price target on Comcast from $38.00 to $32.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Loop Capital dropped their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, TD Cowen decreased their target price on Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.92.

Comcast Price Performance

Shares of Comcast stock opened at $29.74 on Friday. The firm has a market cap of $108.37 billion, a PE ratio of 4.95, a PEG ratio of 2.05 and a beta of 0.83. The stock has a 50 day moving average of $28.01 and a 200 day moving average of $31.51. 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 $38.46.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. On average, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. Comcast’s payout ratio is currently 21.96%.

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.