QRG Capital Management Inc. Cuts Stake in Comcast Corporation $CMCSA

QRG Capital Management Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,708 shares of the cable giant’s stock after selling 62,861 shares during the quarter. QRG Capital Management Inc.’s holdings in Comcast were worth $13,913,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. increased its position in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank raised its stake in Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares during the last quarter. HUB Investment Partners LLC raised its stake in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after purchasing an additional 15,865 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 equities research analysts have recently issued reports on the stock. Seaport Research Partners raised shares of Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Barclays set a $26.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Morgan Stanley set a $29.00 price objective on shares of Comcast in a research note on Friday, July 24th. KeyCorp reissued a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Finally, Moffett Nathanson lowered their target price on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.96.

Comcast Trading Down 0.7%

Shares of CMCSA opened at $25.47 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45. The firm has a 50-day moving average price of $23.74 and a 200 day moving average price of $26.92. The firm has a market capitalization of $90.38 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.46 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s payout ratio is presently 42.72%.

About Comcast

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.