Comcast Corporation $CMCSA Shares Sold by AlTi Global Inc.

AlTi Global Inc. cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,995 shares of the cable giant’s stock after selling 22,482 shares during the period. AlTi Global Inc.’s holdings in Comcast were worth $6,092,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMCSA. Norges Bank acquired a new position in shares of Comcast in the fourth quarter worth about $2,498,626,000. Capital World Investors lifted its position in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors boosted its stake in Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after purchasing an additional 21,958,603 shares during the period. State Street Corp boosted its stake in Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after purchasing an additional 7,917,335 shares during the period. Finally, SG Americas Securities LLC grew its position in Comcast by 2,970.5% during the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after purchasing an additional 7,153,895 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Comcast stock opened at $23.79 on Monday. 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 $84.98 billion, a price-to-earnings ratio of 4.68, a PEG ratio of 1.96 and a beta of 0.67. Comcast Corporation has a one year low of $22.13 and a one year high of $36.01. The company’s fifty day moving average price is $24.00 and its two-hundred day moving average price is $27.48.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, analysts forecast that Comcast Corporation will post 3.48 earnings per share for the current fiscal year.

Comcast Announces Dividend

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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CMCSA shares. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Morgan Stanley reduced their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a report on Monday, July 6th. Moffett Nathanson decreased their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, BNP Paribas Exane lowered their price objective on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $33.64.

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.