Avanza Fonder AB Reduces Position in Comcast Corporation $CMCSA

Key Points

• Avanza Fonder AB has reduced its stake in Comcast Corporation by 8.1% during the second quarter, now holding 253,454 shares valued at approximately $9 million.
• Brokerages have adjusted their price targets for Comcast stock, with Rosenblatt Securities raising its target from $37.00 to $38.00 while others set lower targets, reflecting mixed analyst sentiment.
• Comcast recently announced a quarterly dividend of $0.33 per share, yielding approximately 4.2%, scheduled for payment on October 22nd.

Avanza Fonder AB lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 253,454 shares of the cable giant's stock after selling 22,255 shares during the quarter. Avanza Fonder AB's holdings in Comcast were worth $9,046,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Advisor OS LLC lifted its position in Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. boosted its position in Comcast by 10.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after purchasing an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in Comcast during the 1st quarter worth $335,000. DAVENPORT & Co LLC boosted its position in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC lifted its holdings in Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock worth $2,632,000 after buying an additional 23,607 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CMCSA shares. Scotiabank boosted their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Rothschild & Co Redburn cut their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Loop Capital cut their target price on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Monday. Finally, Rosenblatt Securities increased their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.22.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.19 on Tuesday, hitting $31.68. The company's stock had a trading volume of 14,334,628 shares, compared to its average volume of 24,186,002. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock's 50 day moving average is $33.37 and its 200-day moving average is $34.41. 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 company has a market capitalization of $116.95 billion, a PE ratio of 5.23, a PEG ratio of 1.89 and a beta of 0.93.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio 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.