Brandywine Global Investment Management LLC Cuts Stock Holdings in Comcast Corporation $CMCSA

Brandywine Global Investment Management LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,975,368 shares of the cable giant’s stock after selling 1,426,711 shares during the period. Comcast accounts for approximately 1.4% of Brandywine Global Investment Management LLC’s holdings, making the stock its 12th biggest holding. Brandywine Global Investment Management LLC’s holdings in Comcast were worth $208,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Imprint Wealth LLC purchased a new position in shares of Comcast in the 3rd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast during the fourth quarter valued at about $27,000. United Financial Planning Group LLC acquired a new stake in Comcast during the third quarter worth about $28,000. Olistico Wealth LLC purchased a new position in shares of Comcast in the 4th quarter worth about $29,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a report on Friday, April 24th. Royal Bank Of Canada raised their price target on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Wall Street Zen raised shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Rosenblatt Securities dropped their price objective on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and a consensus target price of $34.56.

Comcast Stock Performance

Comcast stock opened at $23.82 on Monday. Comcast Corporation has a 12-month low of $23.13 and a 12-month high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $85.09 billion, a price-to-earnings ratio of 4.69, a price-to-earnings-growth ratio of 1.94 and a beta of 0.68. The firm’s fifty day moving average price is $26.77 and its 200 day moving average price is $28.43.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same period last year, the firm earned $1.09 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

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.