Comcast Corporation $CMCSA Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 760,061 shares of the cable giant’s stock after selling 36,383 shares during the period. iA Global Asset Management Inc.’s holdings in Comcast were worth $21,821,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Impact Partnership Wealth LLC acquired a new stake in shares of Comcast during the 1st quarter valued at approximately $443,000. Premier Path Wealth Partners LLC lifted its stake in Comcast by 18.4% during the first quarter. Premier Path Wealth Partners LLC now owns 49,567 shares of the cable giant’s stock worth $1,423,000 after purchasing an additional 7,716 shares during the last quarter. Granite Harbor Advisors Inc. boosted its holdings in Comcast by 14.3% in the first quarter. Granite Harbor Advisors Inc. now owns 7,849 shares of the cable giant’s stock worth $225,000 after purchasing an additional 979 shares during the period. Caliber Wealth Management LLC KS boosted its holdings in Comcast by 2.3% in the first quarter. Caliber Wealth Management LLC KS now owns 104,881 shares of the cable giant’s stock worth $3,011,000 after purchasing an additional 2,358 shares during the period. Finally, Mayflower Financial Advisors LLC increased its stake in Comcast by 9.8% during the first quarter. Mayflower Financial Advisors LLC now owns 13,053 shares of the cable giant’s stock valued at $375,000 after purchasing an additional 1,168 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Key Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Unlock value by separating Comcast’s slower-growing connectivity business from its media and entertainment assets, potentially reducing the “conglomerate discount.”
• Positive Sentiment: Give each company clearer strategic focus, which may improve execution and make both businesses easier for investors to value.
• Positive Sentiment: Create M&A optionality around NBCUniversal, Sky, Peacock, and related entertainment assets, fueling speculation about future dealmaking.
• Positive Sentiment: Draw bullish analyst reaction; Rosenblatt upgraded the stock to buy and raised its price target, while Citigroup also kept a positive stance despite trimming its target.

Comcast Stock Performance

Shares of CMCSA opened at $24.55 on Wednesday. The firm has a fifty day moving average of $25.09 and a 200-day moving average of $28.00. The company has a market cap of $87.70 billion, a price-to-earnings ratio of 4.83, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 1 year low of $22.13 and a 1 year high of $36.66.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data 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 business had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. As a group, equities analysts anticipate that Comcast Corporation will post 3.51 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Comcast’s payout ratio is currently 25.98%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMCSA. BNP Paribas Exane dropped their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen raised shares of Comcast to a “hold” rating in a report on Saturday, March 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Comcast in a research report on Thursday, April 23rd. Moffett Nathanson dropped their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Finally, Freedom Capital raised shares of Comcast to a “hold” rating in a report on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.52.

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.