BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Position in Comcast Corporation $CMCSA

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has reduced its stock position in Comcast Corporation by 1.3%, holding 730,008 shares worth approximately $26.9 million after selling 9,722 shares.
• Comcast recently reported earnings with an EPS of $1.25, surpassing expectations, alongside a revenue of $30.31 billion for the quarter, indicating a 2.1% year-over-year increase.
• The company announced a quarterly dividend of $0.33 per share, providing an annualized yield of 3.9%, paid on October 22nd to investors of record on October 1st.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 730,008 shares of the cable giant's stock after selling 9,722 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Comcast were worth $26,937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor OS LLC lifted its holdings in shares of Comcast by 33.2% during the 1st 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 last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Comcast during the 1st quarter valued at $335,000. DAVENPORT & Co LLC lifted its holdings in shares of Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, American Financial Group Inc. lifted its holdings in shares of Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock valued at $9,852,000 after purchasing an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $34.15 on Friday. The business's 50 day moving average price is $34.21 and its 200 day moving average price is $34.77. The firm has a market cap of $126.09 billion, a P/E ratio of 5.64, a P/E/G ratio of 2.05 and a beta of 0.92. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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. The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date 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 is currently 21.82%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Rothschild & Co Redburn decreased their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Scotiabank increased 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. Finally, Moffett Nathanson increased their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comcast has an average rating of "Hold" and a consensus price target of $40.73.

Comcast 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.

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