Comcast Corporation $CMCSA Shares Sold by KBC Group NV

Key Points

• KBC Group NV trimmed its Comcast stake by 5.6% in the first quarter, selling 97,405 shares and leaving it with 1,643,254 shares valued at about $47.2 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus estimates of $0.73 and revenue of $31.46 billion versus expectations of $30.42 billion.
• The company declared a quarterly dividend of $0.33 per share, equal to an annualized yield of 5.6%, while analysts currently rate the stock a consensus “Hold” with an average target price of $33.45.

KBC Group NV reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,643,254 shares of the cable giant's stock after selling 97,405 shares during the quarter. KBC Group NV's holdings in Comcast were worth $47,178,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. State Street Corp grew its position in shares of Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock worth $5,583,604,000 after buying an additional 6,117,946 shares in the last quarter. Capital World Investors increased its stake in shares of Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock worth $4,194,929,000 after buying an additional 24,166,881 shares during the last quarter. Dodge & Cox increased its stake in shares of Comcast by 0.4% in the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock worth $3,376,599,000 after buying an additional 399,596 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Comcast by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock valued at $2,680,747,000 after acquiring an additional 1,465,428 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.78 on Tuesday. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.01. The firm's 50-day simple moving average is $23.98 and its 200 day simple moving average is $27.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market cap of $84.95 billion, a P/E ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. Equities analysts expect that Comcast Corporation will post 3.48 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Wednesday, July 1st. Comcast's dividend payout ratio is 25.98%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CMCSA shares. Morgan Stanley cut their target price on shares of Comcast from $33.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 7th. Moffett Nathanson decreased their price target on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Freedom Capital raised Comcast to a "hold" rating in a report on Friday, June 12th. Royal Bank Of Canada cut their price objective on Comcast from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, New Street Research reduced their target price on Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Comcast has a consensus rating of "Hold" and an average target price of $33.45.

About Comcast

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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