Comcast Corporation $CMCSA Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial trimmed its Comcast stake by 18.1% in Q3, selling 7,946,135 shares and now holds 35,918,430 shares (~0.99% of the company) valued at about $1.13 billion.
• CEO Michael J. Cavanagh sold 57,947 shares at an average $32.66 on Feb. 11, reducing his ownership by 8.52%; insiders now own 1.32% of Comcast.
• Comcast declared a $0.33 quarterly dividend (annualized yield ~4.4%), reported Q EPS of $0.84 (beat estimates) with slightly below‑forecast revenue, and trades at a P/E of 5.62 with a consensus analyst rating of Hold (avg. target $34.87).

Ameriprise Financial Inc. trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 18.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,918,430 shares of the cable giant's stock after selling 7,946,135 shares during the quarter. Ameriprise Financial Inc. owned about 0.99% of Comcast worth $1,128,515,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CMCSA. Cape Investment Advisory Inc. increased its holdings in shares of Comcast by 2.6% in the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant's stock valued at $438,000 after purchasing an additional 307 shares during the last quarter. Titleist Asset Management LLC boosted its stake in Comcast by 4.7% during the second quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant's stock worth $272,000 after buying an additional 342 shares during the last quarter. Lakeshore Capital Group Inc. grew its holdings in Comcast by 2.6% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant's stock valued at $428,000 after buying an additional 343 shares in the last quarter. Hengehold Capital Management LLC grew its holdings in Comcast by 0.5% in the 3rd quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant's stock valued at $2,601,000 after buying an additional 372 shares in the last quarter. Finally, Commonwealth Financial Services LLC increased its stake in shares of Comcast by 4.6% in the 3rd quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant's stock worth $265,000 after acquiring an additional 372 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

NASDAQ CMCSA opened at $30.16 on Friday. The stock has a fifty day simple moving average of $30.13 and a 200-day simple moving average of $29.85. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $108.51 billion, a PE ratio of 5.62, a P/E/G ratio of 2.35 and a beta of 0.79. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same period in the prior year, the business posted $0.96 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 1st. Comcast's dividend payout ratio (DPR) is currently 24.58%.

Analyst Ratings Changes

Several research firms have recently commented on CMCSA. Daiwa Securities Group reduced their price target on Comcast from $38.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, November 18th. Royal Bank Of Canada cut their price objective on shares of Comcast from $32.00 to $31.00 and set a "sector perform" rating for the company in a research report on Friday, January 16th. Wall Street Zen raised shares of Comcast to a "hold" rating in a research note on Saturday. Morgan Stanley decreased their target price on shares of Comcast from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 10th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.87.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.32% of the company's stock.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.