Coastal Bridge Advisors LLC Decreases Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Coastal Bridge Advisors LLC reduced its stake in Comcast Corporation by 39.0%, now holding 13,912 shares valued at approximately $513,000.
• Multiple institutional investors have recently increased their positions in Comcast, with Capital World Investors now owning 141.68 million shares, reflecting a 8.6% increase.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 4.06% and a dividend payout ratio of 32.43%.

Coastal Bridge Advisors LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,912 shares of the cable giant's stock after selling 8,879 shares during the quarter. Coastal Bridge Advisors LLC's holdings in Comcast were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors grew its stake in Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Dodge & Cox boosted its position in Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Invesco Ltd. boosted its position in Comcast by 11.5% during the 4th quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock valued at $1,695,454,000 after acquiring an additional 4,669,069 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Comcast by 12.8% during the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock valued at $1,594,256,000 after acquiring an additional 4,819,443 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of CMCSA opened at $32.50 on Thursday. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a market capitalization of $121.35 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.95. The firm has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $35.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.06%. Comcast's dividend payout ratio (DPR) is 32.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CMCSA shares. Evercore ISI lowered their price objective on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company cut Comcast from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their price target on Comcast from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Citigroup lowered their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of "Hold" and a consensus target price of $41.13.

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.

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