Comcast Corporation $CMCSA Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 11.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 644,055 shares of the cable giant’s stock after selling 84,900 shares during the quarter. Fifth Third Bancorp’s holdings in Comcast were worth $20,236,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Atticus Wealth Management LLC raised its stake in Comcast by 46.2% during the 3rd quarter. Atticus Wealth Management LLC now owns 15,829 shares of the cable giant’s stock valued at $497,000 after acquiring an additional 5,005 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Comcast by 2.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,302,311 shares of the cable giant’s stock valued at $40,919,000 after purchasing an additional 29,037 shares during the period. Hardy Reed LLC increased its holdings in shares of Comcast by 8.8% in the third quarter. Hardy Reed LLC now owns 7,384 shares of the cable giant’s stock valued at $232,000 after purchasing an additional 600 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Comcast by 8.4% during the third quarter. PNC Financial Services Group Inc. now owns 6,038,783 shares of the cable giant’s stock worth $189,739,000 after purchasing an additional 467,065 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Comcast by 5.0% during the third quarter. Cidel Asset Management Inc. now owns 74,225 shares of the cable giant’s stock worth $2,332,000 after purchasing an additional 3,555 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $31.57 on Tuesday. The firm has a 50 day moving average of $29.37 and a 200-day moving average of $30.06. The company has a market cap of $113.58 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 2.41 and a beta of 0.81. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97.

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

Comcast Announces Dividend

The company also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s payout ratio is 24.58%.

Insider Activity at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. TD Cowen dropped their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Hold” and an average price target of $34.90.

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.