Comcast Corporation $CMCSA Shares Sold by Conning Inc.

Conning Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 68.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,942 shares of the cable giant’s stock after selling 37,395 shares during the period. Conning Inc.’s holdings in Comcast were worth $486,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lowe Brockenbrough & Co. Inc. boosted its stake in Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after acquiring an additional 352 shares during the last quarter. Cora Capital Advisors LLC raised its stake in shares of Comcast by 3.4% in the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after purchasing an additional 362 shares in the last quarter. Oakworth Capital Inc. raised its stake in shares of Comcast by 7.4% in the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after purchasing an additional 377 shares in the last quarter. WPG Advisers LLC lifted its position in shares of Comcast by 15.9% during the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after purchasing an additional 384 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in shares of Comcast by 55.7% during the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock worth $32,000 after purchasing an additional 384 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of NASDAQ:CMCSA traded up $0.23 during trading on Friday, reaching $23.57. 25,483,585 shares of the company’s stock traded hands, compared to its average volume of 40,679,600. The stock has a market capitalization of $84.20 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.01. The company has a 50 day moving average of $24.27 and a 200-day moving average of $27.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter last year, the company posted $1.09 earnings per share. Comcast’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMCSA. Rosenblatt Securities raised Comcast from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $31.00 in a report on Tuesday, June 30th. Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. UBS Group reiterated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Freedom Capital upgraded Comcast to a “hold” rating in a report on Friday, June 12th. Finally, BNP Paribas Exane dropped their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.04.

Comcast Company 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.