Comcast Corporation $CMCSA Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 22.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,071,684 shares of the cable giant’s stock after selling 310,507 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Comcast were worth $30,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in 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 buying an additional 2,160,829 shares in the last quarter. North Dakota State Investment Board purchased a new stake in Comcast during the 4th quarter worth approximately $3,754,000. Vest Financial LLC increased its stake in Comcast by 72.1% during the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock worth $6,961,000 after buying an additional 97,601 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Comcast by 53.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after acquiring an additional 72,129 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Comcast by 10.0% during the fourth quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant’s stock valued at $1,295,200,000 after acquiring an additional 3,952,642 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Down 1.3%

Shares of Comcast stock opened at $23.79 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $24.00 and its 200-day simple moving average is $27.50. The stock has a market cap of $84.98 billion, a P/E ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67. Comcast Corporation has a 1-year low of $22.13 and a 1-year high of $36.01.

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. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. BNP Paribas Exane decreased their price objective on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Citigroup lowered their target price on shares of Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Finally, Wells Fargo & Company dropped their target price on shares of Comcast from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, July 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.64.

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.