Nordea Investment Management AB Has $160.47 Million Stock Position in Comcast Corporation $CMCSA

Nordea Investment Management AB reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 28.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,099,987 shares of the cable giant’s stock after selling 2,018,768 shares during the period. Nordea Investment Management AB’s holdings in Comcast were worth $160,471,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC raised its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares in the last quarter. Avalon Trust Co raised its position in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in Comcast in the 2nd quarter valued at $29,000. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 2.0%

Shares of NASDAQ:CMCSA opened at $28.48 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $103.78 billion, a price-to-earnings ratio of 4.74, a P/E/G ratio of 2.07 and a beta of 0.81. The company has a 50 day moving average of $28.06 and a 200-day moving average of $30.92. Comcast Corporation has a one year low of $25.75 and a one year high of $38.40.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $31.20 billion for the quarter, compared to analysts’ expectations of $30.74 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMCSA. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and raised their target price for the company from $31.00 to $37.00 in a research note on Monday. Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Barclays set a $28.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, UBS Group set a $37.00 price objective on shares of Comcast in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.98.

Comcast 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.