Candriam S.C.A. Lowers Stock Position in Comcast Corporation $CMCSA

Key Points

• Candriam S.C.A. reduced its position in Comcast Corporation by 18.3%, owning 861,328 shares worth approximately $31.8 million after selling 192,667 shares in the first quarter.
• Comcast reported earnings per share of $1.25 for the last quarter, beating expectations of $1.18, with a revenue increase of 2.1% year-over-year to $30.31 billion.
• The company announced a quarterly dividend of $0.33 per share, reflecting an annualized yield of 3.9%, with the next payout scheduled for October 22nd.

Candriam S.C.A. cut its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 18.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 861,328 shares of the cable giant's stock after selling 192,667 shares during the period. Candriam S.C.A.'s holdings in Comcast were worth $31,783,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new position in Comcast during the first quarter valued at $26,000. Abound Financial LLC purchased a new position in Comcast during the first quarter valued at $29,000. Retirement Wealth Solutions LLC lifted its holdings in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates lifted its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 1.4%

Shares of NASDAQ:CMCSA opened at $33.89 on Wednesday. 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 Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a 50 day moving average of $34.30 and a two-hundred day moving average of $34.77. The company has a market capitalization of $125.13 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results 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. The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. As a group, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. TD Cowen decreased their price target on shares of Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Scotiabank raised their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. One 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 issued a Sell rating to the company's stock. According to MarketBeat, Comcast has a consensus rating of "Hold" and a consensus target price 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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