Comcast Corporation $CMCSA Shares Sold by M&G PLC

M&G PLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,073 shares of the cable giant’s stock after selling 96,079 shares during the quarter. M&G PLC’s holdings in Comcast were worth $11,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC raised its position in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 436 shares during the period. Avalon Trust Co grew its stake in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after buying an additional 624 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the 2nd quarter valued at about $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Comcast by 403.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after buying an additional 686 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Comcast during the 2nd quarter worth approximately $31,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on 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 directly owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Daiwa Securities Group lowered their price objective on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Scotiabank lowered their price target on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a report on Friday, January 30th. Citigroup reaffirmed a “buy” rating and set a $33.00 price target (up previously from $32.79) on shares of Comcast in a research note on Friday, January 30th. BNP Paribas Exane reissued a “neutral” rating on shares of Comcast in a research report on Tuesday, January 27th. Finally, Morgan Stanley lowered their target price on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.90.

Comcast Price Performance

Shares of CMCSA opened at $31.57 on Tuesday. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $113.58 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 2.41 and a beta of 0.81. The stock has a 50 day moving average of $29.37 and a 200-day moving average of $30.06.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st 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 4.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend 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.