Wellington Management Group LLP Sells 329,923 Shares of Comcast Corporation $CMCSA

Wellington Management Group LLP trimmed its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 16.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,722,450 shares of the cable giant’s stock after selling 329,923 shares during the period. Wellington Management Group LLP’s holdings in Comcast were worth $42,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Brighton Jones LLC boosted its stake in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares during the period. Voya Financial Advisors Inc. increased its stake in shares of Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares during the period. United Bank raised its holdings in Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after buying an additional 4,290 shares during the last quarter. HUB Investment Partners LLC boosted its position in Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC grew 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 worth $1,414,000 after acquiring an additional 15,865 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Price Performance

CMCSA stock opened at $26.65 on Friday. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The company has a market cap of $94.57 billion, a P/E ratio of 8.62, a PEG ratio of 1.91 and a beta of 0.68. The firm has a 50-day moving average of $24.79 and a 200 day moving average of $26.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast’s payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMCSA. The Goldman Sachs Group lowered their price objective on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Moffett Nathanson lowered their price target on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Weiss Ratings cut Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $28.00 target price on shares of Comcast in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.96.

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.