Amundi Lowers Position in Comcast Corporation $CMCSA

Key Points

• Amundi reduced its Comcast stake by 9.7% in the first quarter, selling 1.37 million shares and retaining 12.8 million shares valued at approximately $367.6 million. Institutional investors collectively own 84.32% of the company.
• Analyst sentiment remains mixed, with Comcast holding a consensus “Hold” rating and an average price target of $32.96. Recent targets range from $22 to $52.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, though revenue declined 1.2% year over year. The company declared a quarterly dividend of $0.33 per share, representing a 5.4% annualized yield.

Amundi cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,803,578 shares of the cable giant's stock after selling 1,371,939 shares during the period. Amundi owned about 0.36% of Comcast worth $367,589,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Imprint Wealth LLC purchased a new position in Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast in the 4th quarter worth about $27,000. Whipplewood Advisors LLC grew its position in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after buying an additional 401 shares during the period. Main Street Group LTD purchased a new stake in Comcast during the first quarter worth about $27,000. Finally, Richardson Financial Services Inc. increased its holdings in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock worth $30,000 after buying an additional 691 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BNP Paribas Exane lowered their price target on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. Moffett Nathanson cut their price target on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Evercore lifted their price objective on Comcast from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Morgan Stanley set a $29.00 price objective on Comcast in a research note on Friday, July 24th. Finally, Freedom Capital upgraded shares of Comcast to a "hold" rating in a research note on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and a consensus target price of $32.96.

Comcast Trading Up 1.7%

Shares of Comcast stock opened at $24.61 on Thursday. The company's 50-day moving average price is $23.75 and its 200-day moving average price is $27.17. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45. The company has a market cap of $87.91 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.98 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to analysts' expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities analysts expect that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is 42.72%.

Comcast 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.

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