Comcast Corporation $CMCSA Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 760,061 shares of the cable giant’s stock after selling 36,383 shares during the quarter. iA Global Asset Management Inc.’s holdings in Comcast were worth $21,821,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CMCSA. Norges Bank bought a new position in shares of Comcast in the fourth quarter valued at approximately $2,498,626,000. Capital World Investors raised its holdings in 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 purchasing an additional 24,166,881 shares in the last quarter. Capital Research Global Investors raised its holdings in 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 purchasing an additional 21,958,603 shares in the last quarter. State Street Corp lifted its position in Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after purchasing an additional 7,917,335 shares during the period. Finally, SG Americas Securities LLC lifted its position in Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after purchasing an additional 7,153,895 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Trending Headlines about Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Unlock value by separating Comcast’s slower-growing connectivity business from its media and entertainment assets, potentially reducing the “conglomerate discount.”
• Positive Sentiment: Give each company clearer strategic focus, which may improve execution and make both businesses easier for investors to value.
• Positive Sentiment: Create M&A optionality around NBCUniversal, Sky, Peacock, and related entertainment assets, fueling speculation about future dealmaking.
• Positive Sentiment: Draw bullish analyst reaction; Rosenblatt upgraded the stock to buy and raised its price target, while Citigroup also kept a positive stance despite trimming its target.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday, March 14th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Tuesday. Finally, Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.52.

Comcast Price Performance

NASDAQ CMCSA opened at $24.55 on Wednesday. Comcast Corporation has a 1 year low of $22.13 and a 1 year high of $36.66. The business’s fifty day moving average is $25.09 and its two-hundred day moving average is $28.00. The stock has a market capitalization of $87.70 billion, a P/E ratio of 4.83, a P/E/G ratio of 1.98 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. On average, research analysts forecast that Comcast Corporation will post 3.51 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is currently 25.98%.

Comcast Company Profile

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.