Wellington Management Group LLP Trims Stock Holdings in Comcast Corporation $CMCSA

Wellington Management Group LLP reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 16.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,722,450 shares of the cable giant’s stock after selling 329,923 shares during the quarter. Wellington Management Group LLP’s holdings in Comcast were worth $42,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMCSA. Imprint Wealth LLC bought a new position in shares of Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast during the 4th quarter worth about $27,000. Whipplewood Advisors LLC lifted its holdings in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD bought a new position in Comcast in the 1st quarter worth about $27,000. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of Comcast during the first quarter valued at about $30,000. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

NASDAQ CMCSA opened at $26.65 on Friday. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $94.57 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.91 and a beta of 0.68. The company has a fifty day moving average of $24.79 and a 200-day moving average of $26.49.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating 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 business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CMCSA shares. Weiss Ratings lowered shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Freedom Capital upgraded shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Moffett Nathanson dropped their price objective on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. The Goldman Sachs Group decreased their target price on Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane lowered their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.96.

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.