Comcast Corporation $CMCSA Shares Sold by Groupama Asset Managment

Key Points

• Groupama Asset Management reduced its Comcast position by 46.6% in the first quarter, selling 49,929 shares and retaining 57,206 shares worth approximately $1.64 million. Institutional investors collectively own 84.32% of Comcast’s outstanding stock.
• Analyst sentiment remains mixed, with 11 Buy, 13 Hold, and 4 Sell ratings. Comcast has an average rating of “Hold” and an average price target of $32.96, above its recent $23.96 share price.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, though revenue declined 1.2% year over year. The company also declared a $0.33 quarterly dividend, implying a 5.5% annualized yield.

Groupama Asset Managment cut its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 46.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,206 shares of the cable giant's stock after selling 49,929 shares during the period. Groupama Asset Managment's holdings in Comcast were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CMCSA. Vanguard Group Inc. boosted its holdings in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. North Dakota State Investment Board acquired a new stake in shares of Comcast in the fourth quarter valued at approximately $3,754,000. Inceptionr LLC purchased a new position in Comcast during the first quarter worth approximately $660,000. Vest Financial LLC lifted its position in Comcast by 72.1% during the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant's stock worth $6,961,000 after buying an additional 97,601 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Comcast by 53.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant's stock worth $6,161,000 after buying an additional 72,129 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a "hold" rating to a "buy" rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. The Goldman Sachs Group dropped their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, July 2nd. Barclays set a $26.00 price objective on shares of Comcast and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Finally, Evercore boosted their target price on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.96.

Comcast Stock Up 1.2%

Shares of NASDAQ CMCSA opened at $23.96 on Friday. The firm has a market cap of $85.03 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.96 and a beta of 0.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The business's 50 day moving average is $23.70 and its two-hundred day moving average is $27.12.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Research analysts predict that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio is presently 42.72%.

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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