216,513 Comcast Corporation $CMCSA Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Comcast stake by 54.4% in the third quarter, selling 216,513 shares and retaining 181,469 shares valued at about $3.95 million.
• Analyst views are mixed: 10 rate Comcast a Buy, 11 a Hold, and 6 a Sell, resulting in a consensus Hold rating and a $28.77 average price target.
• Comcast beat quarterly EPS and revenue estimates, though revenue fell 6.1% year over year. The company also declared a $0.33 quarterly dividend, equivalent to a 5.3% yield at the article’s stated share price.

AIA Group Ltd decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 54.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,469 shares of the cable giant's stock after selling 216,513 shares during the quarter. AIA Group Ltd's holdings in Comcast were worth $3,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CMCSA. Third View Private Wealth LLC lifted its position in Comcast by 3.0% during the 3rd quarter. Third View Private Wealth LLC now owns 160,837 shares of the cable giant's stock worth $3,500,000 after acquiring an additional 4,632 shares during the last quarter. Provenance Wealth Advisors LLC grew its position in shares of Comcast by 963.1% in the third quarter. Provenance Wealth Advisors LLC now owns 14,968 shares of the cable giant's stock valued at $326,000 after purchasing an additional 13,560 shares during the last quarter. Associated Banc Corp acquired a new stake in shares of Comcast in the third quarter valued at about $7,417,000. First Nebraska Trust Co bought a new position in shares of Comcast in the third quarter worth about $386,000. Finally, IPG Investment Advisors LLC increased its stake in shares of Comcast by 22.5% in the third quarter. IPG Investment Advisors LLC now owns 36,365 shares of the cable giant's stock worth $791,000 after purchasing an additional 6,675 shares during the period. Institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the subject of several recent analyst reports. Moffett Nathanson decreased their target price on Comcast from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Citigroup dropped their price target on Comcast from $30.00 to $27.50 and set a "buy" rating on the stock in a research report on Thursday, September 24th. Barclays set a $24.00 price target on Comcast and gave the stock an "equal weight" rating in a report on Tuesday, September 29th. Rosenblatt Securities restated a "buy" rating and issued a $31.00 price objective on shares of Comcast in a research note on Monday, October 19th. Finally, Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the company a "sector perform" rating in a research note on Friday, July 24th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast presently has a consensus rating of "Hold" and a consensus target price of $28.77.

Comcast Price Performance

NASDAQ:CMCSA opened at $24.85 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day moving average of $23.23 and a 200-day moving average of $26.03. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85. The company has a market capitalization of $88.24 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.67 and a beta of 0.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. The firm had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. As a group, equities research analysts anticipate that Comcast Corporation will post 3.54 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, January 6th. Comcast's dividend payout ratio is currently 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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