Primecap Management Co. CA Trims Stock Position in Comcast Corporation $CMCSA

Primecap Management Co. CA lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,100 shares of the cable giant’s stock after selling 29,200 shares during the period. Primecap Management Co. CA’s holdings in Comcast were worth $5,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Hurley Capital LLC boosted its position in shares of Comcast by 4.9% in the 3rd quarter. Hurley Capital LLC now owns 18,244 shares of the cable giant’s stock valued at $573,000 after purchasing an additional 845 shares during the period. Fox Run Management L.L.C. increased its position in Comcast by 131.6% during the third quarter. Fox Run Management L.L.C. now owns 42,010 shares of the cable giant’s stock worth $1,320,000 after buying an additional 23,868 shares during the period. JFS Wealth Advisors LLC lifted its stake in Comcast by 16.3% in the third quarter. JFS Wealth Advisors LLC now owns 20,286 shares of the cable giant’s stock valued at $637,000 after buying an additional 2,841 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Comcast by 3.8% in the third quarter. Prestige Wealth Management Group LLC now owns 23,328 shares of the cable giant’s stock valued at $733,000 after acquiring an additional 858 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Comcast by 7.9% during the third quarter. TD Asset Management Inc now owns 3,156,212 shares of the cable giant’s stock worth $99,168,000 after acquiring an additional 231,677 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.32% of the stock is currently owned by company insiders.

Comcast Price Performance

Shares of CMCSA opened at $30.96 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $29.86 and its two-hundred day moving average is $30.04. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97. The firm has a market capitalization of $111.39 billion, a PE ratio of 5.77, a P/E/G ratio of 2.41 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the business posted $0.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s dividend payout ratio is 24.58%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 30th. Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday, January 6th. BNP Paribas Exane cut Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research report on Tuesday. Finally, Scotiabank reduced their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research note on Friday, January 30th. Ten investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.87.

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.