Martingale Asset Management L P Sells 102,865 Shares of Comcast Corporation $CMCSA

Martingale Asset Management L P lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 417,314 shares of the cable giant’s stock after selling 102,865 shares during the quarter. Martingale Asset Management L P’s holdings in Comcast were worth $12,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after buying an additional 2,160,829 shares in the last quarter. State Street Corp lifted its position in shares of Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares in the last quarter. Capital World Investors lifted its position in shares of Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after buying an additional 24,166,881 shares in the last quarter. Dodge & Cox lifted its position in shares of Comcast by 1.2% during the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after buying an additional 1,295,598 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank lifted their target price on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada lifted their target price on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Evercore raised their price target on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $34.56.

Comcast Trading Up 2.2%

Shares of CMCSA stock opened at $24.50 on Friday. The company has a 50 day moving average of $26.32 and a 200-day moving average of $28.31. 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 Corporation has a 12-month low of $23.13 and a 12-month high of $36.66. The firm has a market cap of $87.52 billion, a P/E ratio of 4.82, a PEG ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same quarter last year, the business posted $1.09 EPS. Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, July 1st. Comcast’s payout ratio is currently 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.