Comcast Corporation $CMCSA Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its Comcast stake by 20.3% in Q4, selling 182,517 shares and leaving it with 716,998 shares valued at about $21.43 million.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 for roughly $1.89 million, an 8.52% reduction in his holding.
• Comcast beat quarterly estimates with $0.79 EPS and $31.46 billion revenue (up 5.3% Y/Y), pays a $0.33 quarterly dividend (4.8% yield), and carries a consensus Wall Street rating of Hold with an average target of $34.94.

Comerica Bank reduced its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 716,998 shares of the cable giant's stock after selling 182,517 shares during the quarter. Comerica Bank's holdings in Comcast were worth $21,431,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMCSA. Capital Research Global Investors lifted its holdings in shares of Comcast by 46.1% in the 3rd 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 period. State Street Corp lifted its holdings in shares of Comcast by 4.6% in the 3rd 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 period. SG Americas Securities LLC grew its holdings in shares of Comcast by 2,970.5% in the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock worth $221,028,000 after acquiring an additional 7,153,895 shares during the period. Two Sigma Investments LP grew its holdings in shares of Comcast by 1,356.2% in the 3rd quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock worth $205,993,000 after acquiring an additional 6,105,867 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Comcast by 554.9% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock worth $178,634,000 after acquiring an additional 4,240,876 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.26% of the company's stock.

Comcast Price Performance

CMCSA stock opened at $27.51 on Tuesday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock's 50 day moving average price is $29.65 and its 200 day moving average price is $29.04. The firm has a market cap of $98.98 billion, a P/E ratio of 5.42, a PEG ratio of 2.30 and a beta of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Comcast's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Comcast Corporation will post 3.44 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. Comcast's dividend payout ratio is presently 25.98%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. Evercore upped their price target on Comcast from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday. Morgan Stanley upped their price target on Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday. Scotiabank upped their price target on Comcast from $34.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday. Bank of America upgraded Comcast from a "neutral" rating to a "buy" rating and upped their price target for the stock from $31.00 to $37.00 in a report on Monday, January 12th. Finally, Benchmark lowered their price target on Comcast from $46.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, January 5th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average target price of $34.94.

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.

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