Intech Investment Management LLC Decreases Stock Holdings in Comcast Corporation $CMCSA

Intech Investment Management LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 37.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 429,971 shares of the cable giant’s stock after selling 260,730 shares during the quarter. Intech Investment Management LLC’s holdings in Comcast were worth $13,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cape Investment Advisory Inc. increased its stake in Comcast by 2.6% in the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock valued at $438,000 after purchasing an additional 307 shares in the last quarter. Coign Capital Advisors LLC increased its position in shares of Comcast by 2.1% in the second quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock valued at $568,000 after buying an additional 324 shares in the last quarter. OneAscent Family Office LLC increased its position in shares of Comcast by 4.9% in the second quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock valued at $252,000 after buying an additional 332 shares in the last quarter. Titleist Asset Management LLC raised its stake in shares of Comcast by 4.7% during the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after buying an additional 342 shares during the last quarter. Finally, Lakeshore Capital Group Inc. boosted its position in shares of Comcast by 2.6% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after buying an additional 343 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group restated a “neutral” rating and set a $30.00 price objective (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Daiwa Securities Group reduced their target price on Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Finally, Moffett Nathanson cut their price target on Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.87.

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.32% of the stock is currently owned by insiders.

Comcast Trading Up 0.2%

Shares of CMCSA opened at $30.86 on Friday. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The company has a market capitalization of $111.03 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. The stock has a fifty day moving average of $29.84 and a two-hundred day moving average of $30.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s dividend payout ratio is currently 24.58%.

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.