The Goldman Sachs Group Cuts Comcast (NASDAQ:CMCSA) Price Target to $28.00

Comcast (NASDAQ:CMCSA) had its target price reduced by The Goldman Sachs Group from $30.00 to $28.00 in a research report report published on Wednesday morning,MarketScreener reports. They currently have a neutral rating on the cable giant’s stock.

CMCSA has been the topic of a number of other research reports. Pivotal Research cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. UBS Group lowered their price target on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Morgan Stanley decreased their price objective on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Finally, Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.76.

Comcast Stock Performance

CMCSA stock opened at $28.33 on Wednesday. The business’s fifty day moving average is $30.31 and its 200-day moving average is $29.55. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $101.93 billion, a P/E ratio of 5.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. Comcast has a twelve month low of $25.75 and a twelve month high of $37.48.

Comcast (NASDAQ:CMCSA) last announced 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. The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts forecast that Comcast will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is 24.58%.

Insider Activity at Comcast

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

Institutional Trading of Comcast

A number of large investors have recently bought and sold shares of CMCSA. Norges Bank bought a new position in Comcast in the second quarter valued at approximately $3,528,361,000. Capital World Investors increased its position in shares of Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors increased its position in shares of Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. Dodge & Cox raised its holdings in shares of Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after acquiring an additional 17,054,579 shares during the period. Finally, State Street Corp raised its holdings in shares of Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares during the period. 84.32% of the stock is owned by institutional investors.

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.