Clarkston Capital Partners LLC Lowers Position in Comcast Corporation $CMCSA

Clarkston Capital Partners LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 47.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 495,020 shares of the cable giant’s stock after selling 438,299 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Comcast were worth $14,796,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CMCSA. Norges Bank bought a new position in shares of Comcast in the fourth quarter valued at approximately $2,498,626,000. Capital World Investors grew its holdings in shares of Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Comcast by 65.1% in the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. State Street Corp grew its holdings in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock valued at $221,028,000 after acquiring an additional 7,153,895 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada upped their target price on Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Finally, Wall Street Zen raised Comcast to a “hold” rating in a report on Saturday, March 14th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.56.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $24.50 on Friday. The stock has a fifty day simple moving average of $26.32 and a two-hundred day simple moving average of $28.31. Comcast Corporation has a 1-year low of $23.13 and a 1-year high of $36.66. The firm has a market cap of $87.52 billion, a price-to-earnings ratio of 4.82, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating 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 business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the company earned $1.09 earnings per share. Comcast’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders 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 5.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is 25.98%.

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.