Comcast Corporation $CMCSA Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management reduced its Comcast position by 10% in the second quarter, selling 62,861 shares and retaining 566,708 shares valued at approximately $13.9 million. Institutional investors collectively own 84.32% of Comcast.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and an average price target of $32.96; ratings include 11 Buys, 13 Holds, and four Sells.
• Comcast beat quarterly earnings and revenue expectations, reporting $1.04 EPS and $29.94 billion in revenue, while revenue declined 1.2% year over year. The company also announced a quarterly dividend of $0.33 per share, implying a 5.2% annualized yield.

QRG Capital Management Inc. trimmed its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 566,708 shares of the cable giant's stock after selling 62,861 shares during the quarter. QRG Capital Management Inc.'s holdings in Comcast were worth $13,913,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CMCSA. Vanguard Group Inc. increased its holdings in Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the period. State Street Corp boosted its holdings in shares of Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock valued at $5,583,604,000 after acquiring an additional 6,117,946 shares during 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 acquiring an additional 24,166,881 shares during the period. 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 acquiring an additional 399,596 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several recent research reports. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a "sector perform" rating in a report on Friday, July 24th. Morgan Stanley set a $29.00 price objective on Comcast in a report on Friday, July 24th. Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research note on Thursday, July 2nd. UBS Group reaffirmed a "neutral" rating on shares of Comcast in a report on Tuesday, June 23rd. Finally, Scotiabank set a $29.00 price target on Comcast in a research report on Friday, July 24th. Eleven equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.96.

Comcast Trading Down 0.7%

Shares of Comcast stock opened at $25.47 on Thursday. The firm has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $26.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45. The company has a market cap of $90.38 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. Comcast's payout ratio is 42.72%.

Comcast Company 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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