Ilmarinen Mutual Pension Insurance Co Reduces Position in Comcast Corporation $CMCSA

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Comcast Corporation by 2.9%, now holding 451,500 shares worth approximately $16.66 million.
• Comcast recently reported earnings per share (EPS) of $1.25 for Q2, surpassing analysts' expectations and indicating a year-over-year revenue increase of 2.1%.
• The company declared a quarterly dividend of $0.33 per share, reflecting an annualized yield of 3.9%, with a payout ratio of 21.82%.

Ilmarinen Mutual Pension Insurance Co lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 451,500 shares of the cable giant's stock after selling 13,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Comcast were worth $16,660,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the 1st quarter worth $26,000. Abound Financial LLC purchased a new position in shares of Comcast during the 1st quarter worth $29,000. Retirement Wealth Solutions LLC lifted its stake in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast during the 4th quarter worth $33,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMCSA. Royal Bank Of Canada began coverage on Comcast in a research note on Monday. They set a "sector perform" rating and a $38.00 price target on the stock. Barclays reduced their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Rosenblatt Securities increased their price target on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Morgan Stanley reduced their price target 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, Sanford C. Bernstein reduced 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.56.

Comcast Trading Down 1.0%

Shares of CMCSA traded down $0.34 during trading hours on Friday, hitting $33.06. The stock had a trading volume of 23,842,060 shares, compared to its average volume of 19,553,770. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $122.06 billion, a P/E ratio of 5.46, a P/E/G ratio of 2.00 and a beta of 0.93. The company's fifty day simple moving average is $33.79 and its 200 day simple moving average is $34.60. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share 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 business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period last year, the company posted $1.21 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is currently 21.82%.

About Comcast

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.