Amundi Cuts Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Amundi has reduced its stake in Comcast Corporation by 50%, selling over 12 million shares, and now owns approximately 0.32% of the company, valued at $431.5 million.
• Comcast's stock performance shows a mixed analyst rating, with one Strong Buy, twelve Buy, eleven Hold, and three Sell ratings, and an average price target of $40.73.
• The company recently declared a quarterly dividend of $0.33 per share, yielding 3.9%, with the dividend set to be paid on October 22nd to investors of record as of October 1st.

Amundi decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,032,165 shares of the cable giant's stock after selling 12,054,506 shares during the quarter. Amundi owned about 0.32% of Comcast worth $431,462,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Aprio Wealth Management LLC boosted its position in shares of Comcast by 46.3% in the first quarter. Aprio Wealth Management LLC now owns 18,686 shares of the cable giant's stock valued at $690,000 after acquiring an additional 5,915 shares during the period. Federation des caisses Desjardins du Quebec grew its holdings in shares of Comcast by 56.1% during the first quarter. Federation des caisses Desjardins du Quebec now owns 428,918 shares of the cable giant's stock worth $15,831,000 after purchasing an additional 154,199 shares during the last quarter. Perbak Capital Partners LLP bought a new stake in shares of Comcast during the first quarter worth $280,000. Chiron Capital Management LLC boosted its holdings in Comcast by 231.2% in the first quarter. Chiron Capital Management LLC now owns 44,138 shares of the cable giant's stock valued at $1,629,000 after acquiring an additional 30,811 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Comcast by 11.7% in the first quarter. EP Wealth Advisors LLC now owns 1,095,934 shares of the cable giant's stock valued at $40,440,000 after acquiring an additional 114,678 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent research reports. Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. UBS Group reduced their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Royal Bank Of Canada initiated coverage on Comcast in a research note on Monday. They set a "sector perform" rating and a $38.00 price target on the stock. Finally, Rosenblatt Securities raised their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $40.63.

Comcast Stock Up 0.3%

Shares of CMCSA stock traded up $0.09 on Monday, reaching $34.00. 27,141,320 shares of the stock were exchanged, compared to its average volume of 24,036,617. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a market capitalization of $125.54 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.03 and a beta of 0.93. The business's 50 day moving average price is $34.03 and its 200 day moving average price is $34.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast's dividend payout ratio (DPR) is 21.82%.

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.