Glenmede Trust Co. NA Trims Stock Holdings in Comcast Corporation $CMCSA

Glenmede Trust Co. NA reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 5.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 902,743 shares of the cable giant’s stock after selling 48,463 shares during the quarter. Glenmede Trust Co. NA’s holdings in Comcast were worth $25,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CMCSA. Vanguard Group Inc. increased its holdings in shares of Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares during the period. State Street Corp boosted its stake in Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors boosted its stake in Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Dodge & Cox grew its position in Comcast by 0.4% during the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after purchasing an additional 399,596 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 1.2%

Shares of NASDAQ:CMCSA opened at $23.96 on Friday. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $23.70 and its 200-day simple moving average is $27.12. The company has a market cap of $85.03 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results 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. The firm had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio is 42.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CMCSA shares. UBS Group reaffirmed a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Evercore upped their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. New Street Research decreased their price objective on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. The Goldman Sachs Group lowered their target price on Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.96.

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.