Brevan Howard Capital Management LP Lowers Stock Holdings in Comcast Corporation $CMCSA

Brevan Howard Capital Management LP reduced its holdings in Comcast Corporation (NASDAQ:CMCSA) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 304,615 shares of the cable giant’s stock after selling 176,179 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Comcast were worth $9,571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC grew its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter valued at approximately $26,000. United Financial Planning Group LLC acquired a new position in Comcast during the third quarter worth approximately $28,000. Howard Hughes Medical Institute purchased a new position in Comcast during the second quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Comcast during the second quarter worth approximately $31,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA opened at $30.16 on Friday. The business’s 50-day moving average is $30.13 and its two-hundred day moving average is $29.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.72. The firm has a market capitalization of $108.51 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last issued 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 return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is currently 24.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMCSA. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Arete Research set a $23.00 price target on Comcast in a research report on Tuesday, January 6th. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a research note on Tuesday, February 24th. Finally, Citigroup restated a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.87.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.32% of the stock is owned by company insiders.

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.