Pacer Advisors Inc. Sells 524,436 Shares of Comcast Corporation $CMCSA

Pacer Advisors Inc. lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,104,510 shares of the cable giant’s stock after selling 524,436 shares during the period. Comcast makes up approximately 1.0% of Pacer Advisors Inc.’s investment portfolio, making the stock its 24th biggest holding. Pacer Advisors Inc.’s holdings in Comcast were worth $411,744,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Comcast during the 2nd quarter worth approximately $3,528,361,000. Dodge & Cox increased its stake in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares during the period. First Trust Advisors LP lifted its position in shares of Comcast by 133.1% during the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after purchasing an additional 5,817,614 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock valued at $178,634,000 after purchasing an additional 4,240,876 shares during the period. Finally, State Street Corp grew its holdings in shares of Comcast by 2.5% in the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CMCSA shares. Morgan Stanley decreased their price objective on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Rosenblatt Securities lowered their price target on Comcast from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, December 1st. Daiwa Capital Markets reduced their price objective on Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Evercore ISI decreased their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research report on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and an average target price of $35.92.

Comcast Stock Up 1.2%

Comcast stock opened at $29.74 on Friday. The business has a fifty day moving average price of $28.01 and a 200-day moving average price of $31.51. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $38.46. The stock has a market capitalization of $108.37 billion, a price-to-earnings ratio of 4.95, a PEG ratio of 2.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion during the quarter. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is 21.96%.

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.