Comcast Corporation $CMCSA Shares Sold by ARS Investment Partners LLC

Key Points

• ARS Investment Partners LLC cut its Comcast stake by 31.1% in the fourth quarter, selling 56,524 shares and leaving it with 125,418 shares valued at about $3.75 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus the $0.73 estimate and revenue of $31.46 billion topping forecasts. Revenue rose 5.3% year over year.
• The company also announced a quarterly dividend of $0.33 per share, equal to an annualized yield of 5.3%, while analysts currently rate the stock a consensus Hold with an average price target of $34.79.

ARS Investment Partners LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,418 shares of the cable giant's stock after selling 56,524 shares during the period. ARS Investment Partners LLC's holdings in Comcast were worth $3,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CMCSA. Capital Research Global Investors raised its position in shares of Comcast by 46.1% in the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock valued at $1,059,053,000 after buying an additional 10,633,206 shares during the last quarter. State Street Corp raised its position in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock valued at $5,677,190,000 after buying an additional 7,917,335 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock valued at $221,028,000 after buying an additional 7,153,895 shares during the last quarter. Two Sigma Investments LP increased its position in Comcast by 1,356.2% during the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock worth $205,993,000 after purchasing an additional 6,105,867 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock worth $178,634,000 after purchasing an additional 4,240,876 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Down 1.6%

Shares of NASDAQ:CMCSA opened at $24.76 on Friday. The company has a market capitalization of $88.45 billion, a PE ratio of 4.87, a P/E/G ratio of 1.99 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a twelve month low of $24.53 and a twelve month high of $36.66. The firm has a 50 day simple moving average of $28.36 and a 200-day simple moving average of $28.74.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities analysts predict that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CMCSA shares. Weiss Ratings restated a "hold (c-)" rating on shares of Comcast in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Comcast to a "hold" rating in a research report on Saturday, March 14th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Finally, Scotiabank raised their price objective on shares of Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.79.

More Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast declared a quarterly dividend of $0.33 per share, reinforcing its income appeal and signaling management confidence in cash flow. Comcast Declares Quarterly Dividend
• Positive Sentiment: Zacks highlighted Comcast as one of the better-positioned names in a challenging cable industry, citing growing demand for high-speed internet and stronger media consumption as cord-cutting shifts the market toward broadband. 2 Stocks to Watch From a Challenging Cable Television Industry
• Positive Sentiment: Comcast continues expanding rural broadband access in Florida and Indiana through public-private partnerships, which supports long-term subscriber growth and reinforces the company’s core connectivity business. What Comcast (CMCSA)'s Dividend, Rural Broadband Push and Legal Settlement Means For Shareholders
• Neutral Sentiment: Comcast’s Sky unit is reportedly advancing talks to acquire ITV’s media and entertainment business, a deal that could be strategic but is still early and may require a performance-based payout structure. Comcast's Sky advances talks to acquire ITV unit with performance-based payout, sources say
• Negative Sentiment: Investor sentiment remains weighed down by Comcast’s $117.5 million data-breach settlement, which keeps cybersecurity, legal liability, and reputation risks in focus. Comcast’s US$117.5m Breach Settlement Puts Data Security Risks In Focus
• Negative Sentiment: Recent coverage also notes Comcast hit a new 12-month low after an analyst downgrade, underscoring ongoing concern about growth, competition, and margin pressure. Comcast NASDAQ: CMCSA Reaches New 12-Month Low Following Analyst Downgrade

Comcast 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.

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