Livforsakringsbolaget Skandia Omsesidigt Sells 159,630 Shares of Comcast Corporation $CMCSA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Comcast Corporation by 72.2% in the second quarter, now owning 61,388 shares valued at $2,191,000.
• Comcast recently declared a quarterly dividend of $0.33 per share, representing an annualized yield of 4.1% with a payout ratio of 21.82%.
• The company reported earnings of $1.25 per share for the last quarter, exceeding consensus estimates of $1.18, with revenue of $30.31 billion.

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 72.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 61,388 shares of the cable giant's stock after selling 159,630 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Comcast were worth $2,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in shares of Comcast in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new stake in shares of Comcast in the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC grew its stake in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CMCSA. Sanford C. Bernstein cut their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 10th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Morgan Stanley cut their target price 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. Finally, Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus price target of $40.56.

Comcast Price Performance

Shares of Comcast stock traded down $0.79 during trading on Thursday, reaching $31.64. 39,005,049 shares of the stock traded hands, compared to its average volume of 19,562,012. The company has a market capitalization of $116.82 billion, a price-to-earnings ratio of 5.23, a P/E/G ratio of 1.94 and a beta of 0.93. The business has a fifty day simple moving average of $33.52 and a two-hundred day simple moving average of $34.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Comcast's payout ratio is 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.