Comcast Corporation $CMCSA Shares Sold by Summit Global Investments

Summit Global Investments trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 45.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,752 shares of the cable giant’s stock after selling 23,600 shares during the period. Summit Global Investments’ holdings in Comcast were worth $825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Comcast during the third quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Main Street Group LTD purchased a new stake in Comcast in the 1st quarter valued at $27,000. Finally, Olistico Wealth LLC acquired a new stake in Comcast during the 4th quarter worth $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Universal Pictures’ The Odyssey delivered a strong global opening, highlighting a bright spot for Comcast’s media business and showing that the company can still produce major box-office hits. Article: Comcast’s Universal Pictures Nets $264.1 Million Global Opening for ‘The Odyssey’
• Positive Sentiment: The film’s strong premium-theater performance and IMAX-related enthusiasm suggest some support for Comcast’s entertainment segment and broader recovery hopes. Article: IMAX, CMCSA Rise Premarket: Christopher Nolan’s ‘The Odyssey’ Notches Epic Box Office Opening
• Neutral Sentiment: Analysts are focusing on Comcast’s Q2 report for signs of stabilization in broadband, media, and theme parks, with investors waiting to see whether core business pressures are easing. Article: Comcast Gears Up to Report Q2 Earnings: What’s in the Cards?
• Neutral Sentiment: Comcast is also getting broader market attention, but this appears to be more of a visibility story than a fundamental shift. Article: Comcast (NASDAQ:CMCSA) Draws Fresh Nasdaq Composite Attention
• Negative Sentiment: Comcast’s broadband business remains under pressure and is the main reason investors are not rewarding the stock more for the movie success, since it is still seen as the key earnings risk ahead of results. Article: Why ‘The Odyssey’ Box Office Success Isn’t Lifting Comcast Stock
• Negative Sentiment: Royal Bank of Canada cut its price target on CMCSA from $32 to $27, signaling more cautious expectations for the stock even while maintaining a sector perform rating. Article: Comcast price target lowered by Royal Bank Of Canada

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMCSA. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Scotiabank dropped their price target on Comcast from $36.00 to $32.75 and set a “sector perform” rating on the stock in a research report on Wednesday, July 15th. Wells Fargo & Company decreased their price objective on Comcast from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, July 7th. Citigroup lowered their target price on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Finally, KeyCorp reissued a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.45.

Comcast Trading Up 0.1%

Shares of Comcast stock opened at $23.81 on Wednesday. The firm has a market cap of $85.05 billion, a price-to-earnings ratio of 4.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01. The company’s 50-day simple moving average is $23.96 and its 200-day simple moving average is $27.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Comcast Corporation will post 3.48 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s payout ratio is 25.98%.

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.