Comcast Corporation (NASDAQ:CMCSA) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Comcast by 2.8%, now holding approximately 13.94 million shares, which constitutes 1.2% of its portfolio, making it the firm's 8th largest investment.
• Comcast has experienced a 2.1% revenue growth year-over-year, reporting $30.31 billion in revenue and an EPS of $1.25, exceeding analyst estimates.
• The company announced a quarterly dividend of $0.33 per share, with an annualized yield of 4.1%, set to be paid on October 22nd.

LSV Asset Management decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,940,994 shares of the cable giant's stock after selling 394,264 shares during the quarter. Comcast comprises approximately 1.2% of LSV Asset Management's holdings, making the stock its 8th largest position. LSV Asset Management owned approximately 0.37% of Comcast worth $514,423,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital World Investors lifted its stake in Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. Dodge & Cox increased its position in Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the last quarter. Ameriprise Financial Inc. increased its position in Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. Invesco Ltd. increased its position in Comcast by 11.5% in the 4th quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after purchasing an additional 4,669,069 shares during the last quarter. Finally, Northern Trust Corp increased its position in Comcast by 12.8% in the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock worth $1,594,256,000 after purchasing an additional 4,819,443 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bernstein Bank dropped their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. TD Cowen lowered their price objective on Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered Comcast from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $37.00 to $31.00 in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Comcast has a consensus rating of "Hold" and an average target price of $40.77.

Comcast Price Performance

CMCSA traded down $0.71 during trading on Friday, hitting $32.52. The company's stock had a trading volume of 22,392,993 shares, compared to its average volume of 20,535,802. The firm's 50 day moving average price is $34.79 and its two-hundred day moving average price is $35.09. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The stock has a market capitalization of $121.42 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. Comcast's payout ratio is presently 21.82%.

Comcast Company 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.