DoubleLine ETF Adviser LP Cuts Stock Holdings in Comcast Corporation $CMCSA

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Comcast by 8.2%, now holding 89,540 shares valued at approximately $3.3 million, making it the 28th largest holding for the firm.
• Multiple institutional investors have adjusted their positions in Comcast, with Dodge & Cox increasing its stake by 19.1%, now owning over 94 million shares worth about $3.48 billion.
• Analysts have varying price targets for Comcast, with an average rating of "Hold" and a target price of $40.73, while one analyst rates it as a "Strong Buy."

DoubleLine ETF Adviser LP cut its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,540 shares of the cable giant's stock after selling 8,048 shares during the quarter. Comcast accounts for about 1.1% of DoubleLine ETF Adviser LP's holdings, making the stock its 28th biggest holding. DoubleLine ETF Adviser LP's holdings in Comcast were worth $3,304,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CMCSA. Brighton Jones LLC raised its position in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Comcast during the fourth quarter worth about $1,138,000. Capital Advantage Inc. bought a new position in shares of Comcast during the fourth quarter worth about $206,000. Cornerstone Financial Group LLC NE bought a new position in shares of Comcast during the fourth quarter worth about $201,000. Finally, CoreCap Advisors LLC raised its position in shares of Comcast by 18.6% during the fourth quarter. CoreCap Advisors LLC now owns 13,112 shares of the cable giant's stock worth $492,000 after acquiring an additional 2,059 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of analyst reports. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Royal Bank Of Canada initiated coverage on Comcast in a research report on Monday. They set a "sector perform" rating and a $38.00 price objective for the company. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Moffett Nathanson lifted their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.63.

Comcast Stock Up 0.3%

Shares of NASDAQ CMCSA traded up $0.09 during midday trading on Monday, hitting $34.00. 27,392,772 shares of the stock traded hands, compared to its average volume of 24,087,074. The company has a market cap of $125.54 billion, a PE ratio of 5.62, a P/E/G ratio of 2.03 and a beta of 0.93. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The business has a 50 day moving average price of $34.03 and a two-hundred day moving average price of $34.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

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

About Comcast

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.