Profund Advisors LLC Sells 30,760 Shares of Comcast Corporation $CMCSA

Profund Advisors LLC cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,518 shares of the cable giant’s stock after selling 30,760 shares during the period. Profund Advisors LLC’s holdings in Comcast were worth $6,300,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Comcast by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock worth $845,919,000 after acquiring an additional 507,097 shares during the period. First Trust Advisors LP lifted its holdings in shares of Comcast by 4.9% during the 1st quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock valued at $390,231,000 after purchasing an additional 630,902 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Comcast by 824.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after purchasing an additional 10,359,800 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Comcast by 5.7% in the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock worth $306,227,000 after acquiring an additional 574,300 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CMCSA shares. UBS Group reaffirmed a “neutral” rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Morgan Stanley lowered their price objective on Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $23.00 price target on shares of Comcast in a research note on Thursday, October 22nd. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $23.00 price objective on shares of Comcast in a research note on Tuesday, October 13th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.17.

Comcast Trading Up 4.3%

Shares of NASDAQ:CMCSA opened at $23.22 on Friday. The stock has a market cap of $82.45 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 1.64 and a beta of 0.68. The business has a 50-day moving average price of $23.40 and a 200-day moving average price of $26.09. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 52-week low of $20.48 and a 52-week high of $32.85.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. Equities analysts predict that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, January 6th. Comcast’s payout ratio is 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.