Lansforsakringar Fondforvaltning AB publ Sells 40,280 Shares of Comcast Corporation $CMCSA

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Comcast by 3.1%, selling 40,280 shares in the first quarter, resulting in ownership of 1,254,393 shares valued at approximately $46.29 million.
• Comcast reported $1.25 EPS for the last quarter, beating estimates and showing a 2.1% revenue increase year-over-year, with total revenue of $30.31 billion.
• The company declared a quarterly dividend of $0.33, equating to a 3.9% yield, with the payment date set for October 22nd for shareholders of record on October 1st.

Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,254,393 shares of the cable giant's stock after selling 40,280 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Comcast were worth $46,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Comcast during the first quarter worth approximately $940,015,000. Dodge & Cox grew its position in Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. increased its stake in Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after acquiring an additional 12,586,329 shares during the period. KBC Group NV raised its holdings in Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after acquiring an additional 8,928,641 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Up 1.2%

Comcast stock traded up $0.40 during mid-day trading on Friday, hitting $33.97. The stock had a trading volume of 16,719,253 shares, compared to its average volume of 21,455,062. The stock has a 50-day simple moving average of $34.14 and a two-hundred day simple moving average of $34.74. The stock has a market capitalization of $125.42 billion, a PE ratio of 5.61, a P/E/G ratio of 2.03 and a beta of 0.92. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CMCSA shares. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Rothschild & Co Redburn reduced their price objective on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $40.73.

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.