Comcast Corporation $CMCSA Stake Lessened by RWC Asset Management LLP

Key Points

• RWC Asset Management reduced its Comcast stake by 0.7% in the third quarter, selling 46,103 shares and retaining 6.6 million shares worth approximately $143.6 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast shares recently traded at $22.69, down 0.7%, while the company reported quarterly EPS of $1.07, beating estimates of $0.99; revenue of $29.3 billion declined 6.1% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equivalent to a 5.8% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $30.58, reflecting concerns about broadband and video subscriber losses despite growth in wireless and Peacock.

RWC Asset Management LLP lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,600,472 shares of the cable giant's stock after selling 46,103 shares during the quarter. Comcast comprises about 5.3% of RWC Asset Management LLP's investment portfolio, making the stock its 5th biggest holding. RWC Asset Management LLP owned 0.19% of Comcast worth $143,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in shares of Comcast by 48.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant's stock valued at $34,000 after purchasing an additional 389 shares during the period. PFG Investments LLC lifted its holdings in shares of Comcast by 0.9% in the first quarter. PFG Investments LLC now owns 41,771 shares of the cable giant's stock valued at $1,199,000 after buying an additional 391 shares during the period. Simmons Bank lifted its holdings in shares of Comcast by 2.3% in the first quarter. Simmons Bank now owns 17,795 shares of the cable giant's stock valued at $511,000 after buying an additional 400 shares during the period. Whipplewood Advisors LLC boosted its stake in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after buying an additional 401 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in Comcast by 1.1% during the first quarter. Bollard Group LLC now owns 37,607 shares of the cable giant's stock valued at $1,080,000 after buying an additional 405 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.7%

Shares of NASDAQ CMCSA traded down $0.15 during mid-day trading on Friday, hitting $22.69. 31,333,087 shares of the company traded hands, compared to its average volume of 31,472,736. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The stock has a market capitalization of $80.52 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 1.64 and a beta of 0.68. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $23.80 and a two-hundred day moving average of $24.63.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. The business had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. Comcast's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. On average, sell-side analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Wednesday, January 6th. Comcast's dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMCSA shares. Weiss Ratings cut shares of Comcast from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. UBS Group restated a "neutral" rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research report on Tuesday, September 15th. Zacks Research cut shares of Comcast from a "hold" rating to a "strong sell" rating in a research note on Friday, October 16th. Citigroup dropped their target price on shares of Comcast from $30.00 to $27.50 and set a "buy" rating on the stock in a report on Thursday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Comcast from a "hold" rating to a "buy" rating and cut their target price for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of "Hold" and an average price target of $30.58.

Key Headlines Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast reported third-quarter adjusted earnings of $1.07 per share, above the roughly $0.99 analyst consensus, while revenue of $29.3 billion was broadly in line with expectations. Wireless growth, improved Peacock profitability and strong film performance helped offset weakness elsewhere. Comcast beats earnings expectations as media revenue offsets weakness in connectivity
• Positive Sentiment: Management said approximately 70% of wireless trial lines converted to paid accounts, indicating that the wireless business may be gaining traction as Comcast seeks to diversify beyond broadband. Peacock also reached profitability, supporting momentum ahead of the planned NBCUniversal spinoff. Comcast: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Comcast declared a quarterly dividend of $0.33 per share, or $1.32 annually, offering an approximately 5.8% yield based on the reported share price. The payout may appeal to income-oriented investors, although the yield also reflects broader concerns about the stock’s growth outlook. Comcast Declares Quarterly Dividend
• Neutral Sentiment: The proposed separation of NBCUniversal from Comcast’s broadband, pay-TV and wireless operations could unlock value by allowing each business to pursue a more focused strategy. However, execution and the final structure of the transaction remain important uncertainties. Comcast Co-CEO Brian Roberts Touts Staffers’ Energy and Excitement About Pending NBCUniversal Split
• Negative Sentiment: Domestic broadband and video subscriber losses continued, with satellite and other competitors intensifying pressure on Comcast’s core connectivity business. Revenue fell about 6% year over year, and adjusted earnings declined from the prior-year quarter despite the EPS beat. Comcast broadband losses deepen as competition pressures core business
• Negative Sentiment: Comcast expects a fourth-quarter restructuring charge exceeding $1 billion, including layoffs, as it overhauls its connectivity operations. Analysts including TD Cowen, Goldman Sachs and Citi lowered price targets, underscoring investor concern that broadband weakness may persist. Comcast Flags $1 Billion Q4 Charge for Layoffs and Restructuring

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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