Lombard Odier Asset Management Switzerland SA Sells 42,600 Shares of Comcast Corporation $CMCSA

Lombard Odier Asset Management Switzerland SA reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 44.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 52,842 shares of the cable giant’s stock after selling 42,600 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Comcast were worth $1,517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Brighton Jones LLC raised its stake in Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. increased its holdings in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares during the period. United Bank raised its position in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in shares of Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after buying an additional 15,865 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Moffett Nathanson decreased their price target on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. BNP Paribas Exane dropped their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Barclays set a $26.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday. Finally, Citigroup reduced their price objective 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. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.96.

Comcast Trading Up 2.2%

CMCSA opened at $22.80 on Tuesday. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $81.45 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 1.84 and a beta of 0.67. The company’s 50 day moving average price is $23.77 and its two-hundred day moving average price is $27.23.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. As a group, research analysts predict that Comcast Corporation will post 3.47 earnings per share for the current year.

Comcast Dividend Announcement

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 issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio is presently 42.72%.

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.