Comcast Corporation $CMCSA Stock Holdings Lowered by Davis Capital Management

Key Points

• Davis Capital Management slashed its Comcast stake by 93.7% in Q4, selling 40,302 shares and leaving just 2,726 shares worth about $81,000.
• Comcast beat expectations for the quarter, reporting $0.79 EPS vs. $0.73 expected and $31.46 billion in revenue (vs. $30.42B), and the company pays a $0.33 quarterly dividend (≈4.2% yield).
• Major institutions (State Street, Dodge & Cox, Capital Research) increased positions as institutional ownership stands at 84.32%, while analysts’ consensus is a “Hold” with a $34.81 average price target.

Davis Capital Management cut its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 93.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,726 shares of the cable giant's stock after selling 40,302 shares during the quarter. Davis Capital Management's holdings in Comcast were worth $81,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Comcast by 1.2% in the third quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant's stock valued at $3,536,884,000 after purchasing an additional 1,295,598 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Comcast by 46.1% in the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock worth $1,059,053,000 after buying an additional 10,633,206 shares during the period. Legal & General Group Plc grew its holdings in shares of Comcast by 2.9% during the third quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant's stock valued at $757,372,000 after buying an additional 686,520 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Comcast by 12.6% during the third quarter. Franklin Resources Inc. now owns 22,047,063 shares of the cable giant's stock valued at $692,719,000 after buying an additional 2,470,742 shares during the period. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Royal Bank Of Canada lowered their target price on Comcast from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Friday, January 16th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Comcast in a research note on Wednesday, April 8th. BNP Paribas Exane cut their target price on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research report on Wednesday, April 8th. Morgan Stanley began coverage on shares of Comcast in a research note on Thursday, April 16th. They set an "equal weight" rating and a $31.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast has an average rating of "Hold" and a consensus price target of $34.81.

Comcast Trading Up 6.8%

Shares of CMCSA opened at $31.36 on Thursday. The stock's 50-day moving average price is $29.82 and its 200 day moving average price is $29.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $112.83 billion, a price-to-earnings ratio of 5.82, a P/E/G ratio of 2.41 and a beta of 0.80. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. As a group, research analysts predict that Comcast Corporation will post 3.46 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, April 1st. Comcast's payout ratio is 24.58%.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.32% of the stock is owned by company insiders.

Comcast 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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