Comcast Corporation (NASDAQ:CMCSA) Position Reduced by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has sold 65.9% of its stake in Comcast Corporation, reducing its holdings to 37,700 shares worth approximately $1.39 million.
• Comcast's stock has an average rating of "Hold" with a consensus target price of $40.73, as analysts adjust their price objectives amid recent market activity.
• The company has declared a quarterly dividend of $0.33 per share, which translates to an annual yield of 4.1%, to be paid on October 22nd.

Alberta Investment Management Corp decreased its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 65.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,700 shares of the cable giant's stock after selling 72,700 shares during the quarter. Alberta Investment Management Corp's holdings in Comcast were worth $1,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC purchased a new stake in shares of Comcast in the 1st quarter valued at $26,000. Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC increased its holdings in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in Comcast during the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.2%

Comcast stock traded down $0.05 during midday trading on Tuesday, reaching $32.51. The stock had a trading volume of 27,433,895 shares, compared to its average volume of 21,250,816. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The stock has a market capitalization of $121.38 billion, a PE ratio of 5.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock's 50-day simple moving average is $34.76 and its 200 day simple moving average is $35.07.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period last year, the company posted $1.21 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. Analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BNP Paribas Exane lowered their price objective on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. UBS Group decreased their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday. Moffett Nathanson upped their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.