Neuberger Berman Group LLC Sells 195,815 Shares of Comcast Corporation $CMCSA

Neuberger Berman Group LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 922,403 shares of the cable giant’s stock after selling 195,815 shares during the period. Neuberger Berman Group LLC’s holdings in Comcast were worth $28,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Cape Investment Advisory Inc. raised its holdings in shares of Comcast by 2.6% during the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after acquiring an additional 307 shares during the period. Titleist Asset Management LLC boosted its stake in Comcast by 4.7% in the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after purchasing an additional 342 shares during the period. Lakeshore Capital Group Inc. increased its holdings in Comcast by 2.6% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after purchasing an additional 343 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Comcast by 1.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 32,064 shares of the cable giant’s stock valued at $1,144,000 after purchasing an additional 351 shares during the period. Finally, Hengehold Capital Management LLC lifted its holdings in shares of Comcast by 0.5% in the third quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant’s stock valued at $2,601,000 after purchasing an additional 372 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMCSA. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 target price on the stock. in a research report on Tuesday, February 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Scotiabank cut their price objective on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Daiwa Securities Group reduced their target price on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Finally, Sanford C. Bernstein lowered their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.87.

Comcast Stock Up 1.0%

NASDAQ:CMCSA opened at $31.91 on Friday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97. The firm has a market capitalization of $114.81 billion, a price-to-earnings ratio of 5.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $30.06 and its two-hundred day moving average price is $29.96.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period last year, the business earned $0.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s payout ratio is currently 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.32% of the stock is owned by corporate insiders.

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.