Exchange Traded Concepts LLC Cuts Position in Comcast Corporation $CMCSA

Exchange Traded Concepts LLC decreased its stake in Comcast Corporation (NASDAQ:CMCSA) by 54.6% in the 4th quarter, Holdings Channel reports. The firm owned 498,124 shares of the cable giant’s stock after selling 598,930 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Comcast were worth $14,889,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares during the period. Dodge & Cox grew its holdings in shares of Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after acquiring an additional 1,295,598 shares during the period. Capital Research Global Investors grew its holdings in shares of Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock worth $1,059,053,000 after acquiring an additional 10,633,206 shares during the period. Legal & General Group Plc increased its stake in Comcast by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant’s stock valued at $757,372,000 after purchasing an additional 686,520 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Comcast by 12.6% in the 3rd quarter. Franklin Resources Inc. now owns 22,047,063 shares of the cable giant’s stock valued at $692,719,000 after purchasing an additional 2,470,742 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $101.93 billion, a PE ratio of 5.28, a P/E/G ratio of 2.23 and a beta of 0.79. The firm has a 50 day simple moving average of $30.31 and a 200-day simple moving average of $29.52. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $37.48.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. Comcast’s payout ratio is currently 24.58%.

Analysts Set New Price Targets

CMCSA has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their target price on Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Arete Research set a $23.00 price objective on shares of Comcast in a research report on Tuesday, January 6th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Finally, BNP Paribas Exane dropped their target price on shares of Comcast from $27.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus target price of $34.76.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.32% of the stock is currently owned by corporate insiders.

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.