Comcast Corporation $CMCSA Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,532,799 shares of the cable giant's stock after selling 214,039 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Comcast worth $229,194,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Allied Private Wealth LLC purchased a new position in shares of Comcast during the second quarter valued at about $26,000. Whipplewood Advisors LLC boosted its stake in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD purchased a new stake in shares of Comcast in the first quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new position in shares of Comcast in the third quarter worth about $27,000. Finally, Thompson Investment Management Inc. bought a new stake in shares of Comcast during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of CMCSA opened at $23.22 on Monday. The firm has a 50-day simple moving average of $23.40 and a two-hundred day simple moving average of $26.09. The stock has a market cap of $82.45 billion, a PE ratio of 7.35, a P/E/G ratio of 1.64 and a beta of 0.72. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion during the quarter, compared to analysts' expectations 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 period last year, the business posted $1.12 EPS. As a group, analysts forecast that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders 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 5.7%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast's payout ratio is presently 41.77%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank cut their price target on Comcast from $29.00 to $27.50 and set a "sector perform" rating on the stock in a research note on Friday, October 2nd. BNP Paribas Exane cut their price target on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. Moffett Nathanson lowered their price objective on shares of Comcast from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Citigroup lowered their price target 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, Freedom Broker cut their target price on shares of Comcast from $29.00 to $25.00 and set a "hold" rating for the company in a report on Monday, October 26th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, Comcast currently has an average rating of "Hold" and a consensus target price of $29.17.

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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