Comcast Corporation $CMCSA Stock: Generali Asset Management SPA SGR Reduces Stake

Key Points

• Generali Asset Management reduced its Comcast stake by 12.5% in the third quarter, selling 56,373 shares and retaining 393,740 shares valued at approximately $8.6 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast shares opened at $21.57, near their 12-month low of $20.48, while the company reported quarterly EPS of $1.07—above the $0.99 consensus estimate—despite a 6.1% year-over-year revenue decline.
• Comcast declared a quarterly dividend of $0.33, representing an annualized payout of $1.32 and a 6.1% dividend yield. Analysts’ consensus rating is “Hold,” with an average price target of $30.37.

Generali Asset Management SPA SGR decreased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 393,740 shares of the cable giant's stock after selling 56,373 shares during the quarter. Generali Asset Management SPA SGR's holdings in Comcast were worth $8,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock worth $1,173,232,000 after acquiring an additional 3,783,234 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant's stock valued at $845,919,000 after purchasing an additional 507,097 shares in the last quarter. First Trust Advisors LP raised its holdings in Comcast by 4.9% in the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant's stock worth $390,231,000 after purchasing an additional 630,902 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock worth $333,509,000 after purchasing an additional 10,359,800 shares during the period. Finally, Swiss National Bank raised its holdings in Comcast by 5.7% in the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant's stock worth $306,227,000 after purchasing an additional 574,300 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Down 1.2%

Comcast stock opened at $21.57 on Thursday. The company has a 50 day moving average of $23.55 and a 200-day moving average of $26.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85. The stock has a market capitalization of $76.54 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.08. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The firm's quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $1.12 earnings per share. On average, equities research analysts anticipate that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 annualized dividend and a dividend yield of 6.1%. Comcast's dividend payout ratio (DPR) is currently 41.77%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMCSA. Raymond James Financial reissued a "market perform" rating on shares of Comcast in a report on Friday, October 2nd. Royal Bank Of Canada set a $26.00 price objective on Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Freedom Broker reduced their target price on Comcast from $29.00 to $25.00 and set a "hold" rating on the stock in a report on Monday. TD Cowen decreased their target price on Comcast from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Finally, Scotiabank dropped their price target on Comcast from $29.00 to $27.50 and set a "sector perform" rating on the stock in a research report on Friday, October 2nd. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.37.

Comcast Company 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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