Dakota Wealth Management Trims Stake in Comcast Corporation $CMCSA

Dakota Wealth Management cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.6% in the third quarter, HoldingsChannel reports. The firm owned 143,447 shares of the cable giant’s stock after selling 37,326 shares during the period. Dakota Wealth Management’s holdings in Comcast were worth $4,507,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CMCSA shares. Moffett Nathanson decreased their price target on Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Evercore decreased their price objective 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. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Oppenheimer set a $38.00 price target on shares of Comcast in a report on Tuesday, November 4th. Finally, Barclays set a $28.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.87.

Comcast Stock Down 0.1%

CMCSA opened at $31.61 on Wednesday. The company has a market cap of $113.73 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 2.47 and a beta of 0.81. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97. The company has a 50-day moving average price of $29.81 and a 200 day moving average price of $30.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last issued 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 return on equity of 16.86% and a net margin of 16.17%.The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

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.