Comcast Corporation $CMCSA Holdings Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Comcast Corporation (NASDAQ:CMCSA) by 2.0% in the 3rd quarter, Holdings Channel reports. The firm owned 10,532,799 shares of the cable giant’s stock after selling 214,039 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Comcast were worth $229,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Comcast during the 3rd quarter valued at about $135,207,000. Aviance Capital Partners LLC grew its holdings in Comcast by 5.3% in the third quarter. Aviance Capital Partners LLC now owns 90,128 shares of the cable giant’s stock valued at $1,961,000 after purchasing an additional 4,505 shares during the period. ProShare Advisors LLC increased its position in Comcast by 3.0% during the third quarter. ProShare Advisors LLC now owns 4,054,224 shares of the cable giant’s stock worth $88,220,000 after purchasing an additional 118,184 shares during the last quarter. Vise Technologies Inc. increased its position in Comcast by 8.6% during the third quarter. Vise Technologies Inc. now owns 162,831 shares of the cable giant’s stock worth $3,543,000 after purchasing an additional 12,963 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in Comcast by 8.0% during the third quarter. Cidel Asset Management Inc. now owns 118,344 shares of the cable giant’s stock worth $2,575,000 after purchasing an additional 8,769 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Comcast in a research note on Friday, October 2nd. Zacks Research lowered shares of Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Freedom Broker decreased their price objective on shares of Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, October 26th. BNP Paribas Exane cut their price objective on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Finally, Moffett Nathanson lowered their price target on shares of Comcast from $52.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.17.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.22 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $82.45 billion, a PE ratio of 7.35, a P/E/G ratio of 1.64 and a beta of 0.72. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The business’s fifty day moving average price is $23.40 and its two-hundred day moving average price is $26.09.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company had revenue of $29.30 billion during the quarter, compared to the consensus estimate of $29.22 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts expect that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.7%. Comcast’s payout ratio is presently 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.