ICICI Prudential Asset Management Co Ltd Cuts Stake in Comcast Corporation $CMCSA

ICICI Prudential Asset Management Co Ltd reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 50.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,329 shares of the cable giant’s stock after selling 59,646 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Comcast were worth $1,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CMCSA. Lowe Brockenbrough & Co. Inc. increased its position in Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after buying an additional 352 shares in the last quarter. Cora Capital Advisors LLC boosted its holdings in Comcast by 3.4% in the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after acquiring an additional 362 shares in the last quarter. FSA Advisors Inc. grew its stake in shares of Comcast by 5.5% during the third quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock worth $226,000 after acquiring an additional 376 shares during the last quarter. Oakworth Capital Inc. increased its holdings in shares of Comcast by 7.4% during the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after acquiring an additional 377 shares in the last quarter. Finally, WPG Advisers LLC raised its position in shares of Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after purchasing an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMCSA shares. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research note on Friday, April 24th. New Street Research dropped their price objective on shares of Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Rosenblatt Securities reduced their target price on Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Finally, Royal Bank Of Canada boosted their price target on Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.56.

Comcast Price Performance

NASDAQ:CMCSA opened at $23.97 on Friday. The firm has a market capitalization of $85.63 billion, a P/E ratio of 4.72, a PEG ratio of 1.95 and a beta of 0.67. Comcast Corporation has a 1-year low of $23.13 and a 1-year high of $36.66. The company’s fifty day moving average price is $26.39 and its 200-day moving average price is $28.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 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.