BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in Comcast Corporation $CMCSA

Key Points

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BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 15.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 765,731 shares of the cable giant's stock after selling 143,776 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Comcast were worth $28,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CMCSA. Nuveen LLC bought a new position in Comcast during the first quarter worth $940,015,000. Pacer Advisors Inc. raised its stake in Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after buying an additional 12,586,329 shares during the last quarter. KBC Group NV raised its stake in Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after buying an additional 8,928,641 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after buying an additional 5,402,377 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Comcast by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after buying an additional 4,991,891 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Citigroup decreased their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Arete Research raised shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Moffett Nathanson lifted their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Stock Up 1.6%

Shares of NASDAQ CMCSA traded up $0.55 during mid-day trading on Friday, reaching $34.15. 25,267,336 shares of the company's stock traded hands, compared to its average volume of 24,360,090. The stock has a market cap of $126.09 billion, a P/E ratio of 5.64, a PEG ratio of 2.01 and a beta of 0.92. The business has a 50-day simple moving average of $34.21 and a 200 day simple moving average of $34.77. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (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 firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period last year, the company earned $1.21 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

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 issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. 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.