Nordea Investment Management AB Sells 1,314,028 Shares of Comcast Corporation $CMCSA

Nordea Investment Management AB lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 25.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,785,959 shares of the cable giant’s stock after selling 1,314,028 shares during the quarter. Nordea Investment Management AB’s holdings in Comcast were worth $113,408,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in 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 purchasing an additional 300,898 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Comcast by 9.7% in the 3rd 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 during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Comcast by 75.3% in the 3rd 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 last quarter. Candriam S.C.A. grew its position in shares of Comcast by 3.5% during the 3rd quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock worth $29,917,000 after buying an additional 32,262 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd grew its position in shares of Comcast by 1.0% during the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant’s stock worth $355,908,000 after buying an additional 113,461 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.1%

Shares of NASDAQ:CMCSA opened at $29.02 on Monday. The company has a 50 day moving average price of $30.27 and a two-hundred day moving average price of $29.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $104.41 billion, a PE ratio of 5.40, a PEG ratio of 2.26 and a beta of 0.79. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.72.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same period last year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm 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 dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.5%. Comcast’s payout ratio is currently 24.58%.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Citigroup reiterated a “buy” rating and set a $33.00 target price (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Pivotal Research downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Benchmark reduced their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, UBS Group decreased their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus price target of $34.87.

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.