Capital World Investors Trims Stock Position in Comcast Corporation $CMCSA

Capital World Investors decreased its position in Comcast Corporation (NASDAQ:CMCSA) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,176,518 shares of the cable giant’s stock after selling 12,638,145 shares during the period. Capital World Investors’ holdings in Comcast were worth $3,650,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Comcast during the second quarter worth $3,528,361,000. Dodge & Cox lifted its stake in shares of Comcast by 18.1% in the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Comcast by 133.1% during the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after purchasing an additional 5,817,614 shares during the period. Worldquant Millennium Advisors LLC increased its position in shares of Comcast by 554.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after purchasing an additional 4,240,876 shares during the last quarter. Finally, State Street Corp raised its holdings in Comcast by 2.5% in the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after buying an additional 4,231,140 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Citigroup reissued a “buy” rating and issued a $33.00 price target (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Scotiabank lowered their price objective on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Finally, Benchmark cut their target price on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned 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.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on 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 SEC, which is available at this link. 1.26% of the stock is owned by company insiders.

Comcast Stock Performance

NASDAQ:CMCSA opened at $31.04 on Tuesday. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.97. The company has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $29.92. 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 company has a market cap of $111.68 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

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

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.