CX Institutional Decreases Position in Comcast Corporation $CMCSA

CX Institutional trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 68.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,744 shares of the cable giant’s stock after selling 29,254 shares during the period. CX Institutional’s holdings in Comcast were worth $337,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position 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 acquiring an additional 2,160,829 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of Comcast in the fourth quarter worth about $3,754,000. Inceptionr LLC purchased a new position in Comcast in the 1st quarter worth about $660,000. Bank of America Corp DE lifted its holdings in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after buying an additional 3,783,234 shares in the last quarter. Finally, Vest Financial LLC grew its stake in Comcast by 72.1% in the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock worth $6,961,000 after acquiring an additional 97,601 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $25.36 on Friday. The business’s fifty day simple moving average is $23.69 and its 200-day simple moving average is $27.00. The company has a market cap of $89.99 billion, a PE ratio of 8.21, a PEG ratio of 1.43 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the firm earned $1.25 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Analysts expect that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research reports. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Royal Bank Of Canada set a $26.00 price target on Comcast and gave the company a “sector perform” rating in a research note on Friday, July 24th. Moffett Nathanson lowered their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Weiss Ratings cut shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and cut their target price for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.96.

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.