Shell Asset Management Co. Reduces Stock Holdings in Comcast Corporation $CMCSA

Shell Asset Management Co. reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 69.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,415 shares of the cable giant’s stock after selling 17,064 shares during the quarter. Shell Asset Management Co.’s holdings in Comcast were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Osaic Holdings Inc. boosted its stake in shares of Comcast by 39.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock worth $37,954,000 after acquiring an additional 300,898 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after purchasing an additional 1,257,196 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Comcast by 20.0% in the 2nd quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock worth $2,928,000 after purchasing an additional 13,653 shares during the period. Principal Financial Group Inc. lifted its position in Comcast by 9.7% during the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock valued at $236,810,000 after purchasing an additional 665,635 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in Comcast by 75.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock valued at $10,707,000 after purchasing an additional 146,339 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMCSA. Loop Capital decreased their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Oppenheimer set a $38.00 target price on shares of Comcast in a report on Tuesday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Evercore dropped their price target on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Daiwa Securities Group decreased their price objective on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average target price of $34.90.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $31.60 on Thursday. The firm has a market cap of $113.69 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 2.46 and a beta of 0.81. The firm has a fifty day moving average price of $29.55 and a 200 day moving average price of $30.07. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Comcast’s dividend payout ratio is presently 24.58%.

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.