Erste Asset Management GmbH Reduces Position in Comcast Corporation $CMCSA

Erste Asset Management GmbH trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 50.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 71,133 shares of the cable giant’s stock after selling 73,121 shares during the quarter. Erste Asset Management GmbH’s holdings in Comcast were worth $2,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC grew its position 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 during the period. Voya Financial Advisors Inc. raised its stake in Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after buying an additional 2,593 shares during the last quarter. United Bank lifted its holdings in shares of Comcast by 11.3% during the 2nd 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 during the period. Arkadios Wealth Advisors boosted its stake in shares of Comcast by 67.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 44,878 shares of the cable giant’s stock worth $1,602,000 after buying an additional 18,007 shares during the last quarter. Finally, Savvy Advisors Inc. boosted its stake in shares of Comcast by 30.7% in the 2nd quarter. Savvy Advisors Inc. now owns 14,039 shares of the cable giant’s stock worth $501,000 after buying an additional 3,300 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of research reports. Daiwa Securities Group reduced their price objective on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Oppenheimer set a $38.00 price objective on shares of Comcast in a research note on Tuesday, November 4th. Royal Bank Of Canada dropped their price objective on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Finally, Morgan Stanley reduced their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.87.

Comcast Price Performance

NASDAQ CMCSA opened at $30.96 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97. The stock has a market cap of $111.39 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.41 and a beta of 0.81. The company’s 50 day moving average is $29.86 and its two-hundred day moving average is $30.03.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

Insider Buying and Selling

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.32% of the stock is currently owned by corporate insiders.

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.