Comcast Corporation $CMCSA Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its position in Comcast Corporation by 4.1%, selling 70,967 shares during the first quarter, now holding 1,645,251 shares valued at approximately $60.71 million.
• Comcast's stock recently traded at $33.97 with a market cap of $125.42 billion, and it declared a quarterly dividend of $0.33 per share scheduled for payment on October 22, representing a 3.9% yield.
• Analysts have varied ratings for Comcast, with one Strong Buy, twelve Buy, eleven Hold, and three Sell ratings; the average target price is $40.73.

Panagora Asset Management Inc. trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,645,251 shares of the cable giant's stock after selling 70,967 shares during the period. Panagora Asset Management Inc.'s holdings in Comcast were worth $60,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Comcast by 150.9% during the 4th 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 in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Comcast by 4.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 602,519 shares of the cable giant's stock worth $22,613,000 after purchasing an additional 27,775 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in shares of Comcast by 35.3% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 9,991 shares of the cable giant's stock valued at $375,000 after purchasing an additional 2,606 shares during the period. AXA S.A. grew its holdings in shares of Comcast by 6.0% in the fourth quarter. AXA S.A. now owns 1,738,884 shares of the cable giant's stock valued at $65,260,000 after purchasing an additional 98,319 shares in the last quarter. Finally, Aspire Growth Partners LLC acquired a new position in shares of Comcast in the fourth quarter valued at approximately $364,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Rosenblatt Securities upped their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, Barclays lowered their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Performance

NASDAQ CMCSA traded up $0.16 during trading hours on Tuesday, hitting $34.13. The company had a trading volume of 20,294,509 shares, compared to its average volume of 24,099,027. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $126.02 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The business has a 50 day moving average of $34.12 and a 200-day moving average of $34.73.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Comcast Profile

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.