Comcast Corporation $CMCSA Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,245,876 shares of the cable giant’s stock after selling 200,702 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.76% of Comcast worth $782,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund grew its position in Comcast by 7.9% in the first quarter. Illinois Municipal Retirement Fund now owns 522,747 shares of the cable giant’s stock worth $15,008,000 after acquiring an additional 38,094 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Comcast by 40.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 59,162 shares of the cable giant’s stock valued at $1,699,000 after purchasing an additional 17,117 shares in the last quarter. NFSG Corp lifted its stake in shares of Comcast by 12.4% in the 1st quarter. NFSG Corp now owns 4,202 shares of the cable giant’s stock valued at $121,000 after purchasing an additional 463 shares during the last quarter. Signet Financial Management LLC lifted its stake in shares of Comcast by 57.0% in the 1st quarter. Signet Financial Management LLC now owns 72,348 shares of the cable giant’s stock valued at $2,077,000 after purchasing an additional 26,270 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Comcast by 13.8% in the first quarter. Sanctuary Advisors LLC now owns 449,940 shares of the cable giant’s stock worth $12,918,000 after purchasing an additional 54,673 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast News Roundup

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has recently shown relative strength versus the broader market, with one report noting the shares outperformed in the latest session and closed higher, suggesting some investors are still buying the dip ahead of earnings.
• Neutral Sentiment: The company is set to report earnings on Thursday, and analysts are framing the release as a key test of whether Comcast can beat expectations amid signs of declining earnings. Analysts Estimate Comcast (CMCSA) to Report a Decline in Earnings: What to Look Out for
• Neutral Sentiment: Scotiabank lowered its price target on Comcast to $32.75 from $36 while keeping a sector perform rating, signaling reduced upside expectations rather than a major change in outlook.
• Neutral Sentiment: Wells Fargo also trimmed its price target to $28 from $29 and maintained an Underweight rating, reinforcing a cautious stance on the stock.
• Negative Sentiment: Comcast agreed to a $117.5 million settlement related to the Xfinity data breach, adding legal, reputational, and cybersecurity overhang ahead of earnings.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Scotiabank cut their target price on Comcast from $36.00 to $32.75 and set a “sector perform” rating on the stock in a report on Wednesday. Citigroup decreased their price target on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Morgan Stanley lowered their price objective on Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. Moffett Nathanson reduced their target price on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, UBS Group restated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.64.

Comcast Stock Performance

CMCSA opened at $24.10 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average price is $24.04 and its two-hundred day moving average price is $27.53. The firm has a market capitalization of $86.09 billion, a P/E ratio of 4.74, 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.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $30.42 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Comcast’s dividend payout ratio 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.