Comcast Corporation $CMCSA Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 38.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,069,749 shares of the cable giant’s stock after selling 5,123,487 shares during the quarter. Royal Bank of Canada owned approximately 0.23% of Comcast worth $231,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Imprint Wealth LLC acquired a new stake in Comcast in the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast during the fourth quarter worth about $27,000. Whipplewood Advisors LLC lifted its holdings in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD acquired a new stake in Comcast during the 1st quarter valued at $27,000. Finally, Richardson Financial Services Inc. increased its position in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CMCSA shares. KeyCorp reissued a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. The Goldman Sachs Group lowered their price target on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. BNP Paribas Exane decreased their target price on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, UBS Group restated a “neutral” rating on shares of Comcast in a research note on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.96.

Comcast Stock Up 1.7%

NASDAQ:CMCSA opened at $24.61 on Thursday. 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 $87.91 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The stock has a 50-day simple moving average of $23.75 and a 200 day simple moving average of $27.17.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period last year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts predict that Comcast Corporation will post 3.5 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

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.