Ameriprise Financial Inc. Sells 2,326,969 Shares of Comcast Corporation $CMCSA

Ameriprise Financial Inc. reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,864,565 shares of the cable giant’s stock after selling 2,326,969 shares during the period. Ameriprise Financial Inc.’s holdings in Comcast were worth $1,565,636,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Global Trust Asset Management LLC lifted its stake in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after buying an additional 671 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 350 shares during the last quarter. Avalon Trust Co increased its stake in shares of 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 acquiring an additional 624 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Comcast in the 1st quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute bought a new position in Comcast during the 2nd quarter worth approximately $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

CMCSA opened at $27.23 on Friday. The company has a market capitalization of $99.22 billion, a price-to-earnings ratio of 4.53, a P/E/G ratio of 1.90 and a beta of 0.83. The business’s 50-day moving average price is $28.09 and its two-hundred day moving average price is $31.82. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $40.20. 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 posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. Equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s payout ratio is currently 21.96%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CMCSA shares. Royal Bank Of Canada cut their target price on shares of Comcast from $38.00 to $32.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Citigroup dropped their price objective on Comcast from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Morgan Stanley reduced their target price on Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.78.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.