Invesco Ltd. Has $1.49 Billion Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Invesco Ltd. reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 10.4%, selling 4.68 million shares, while still holding about 1.08% of the company, valued at approximately $1.49 billion.
• Comcast reported $1.25 earnings per share for the last quarter, exceeding analysts' estimates of $1.18, with revenue increasing 2.1% year-over-year to $30.31 billion.
• The company announced a quarterly dividend of $0.33, translating to an annualized yield of 4.2%, highlighting its commitment to returning value to shareholders despite market fluctuations.

Invesco Ltd. lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,497,249 shares of the cable giant's stock after selling 4,678,720 shares during the period. Invesco Ltd. owned about 1.08% of Comcast worth $1,494,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after buying an additional 99,986 shares during the last quarter. FIL Ltd grew its holdings in Comcast by 5.4% in the fourth quarter. FIL Ltd now owns 556,273 shares of the cable giant's stock valued at $20,877,000 after purchasing an additional 28,527 shares during the period. Advisory Services Network LLC grew its holdings in Comcast by 25.2% in the fourth quarter. Advisory Services Network LLC now owns 72,912 shares of the cable giant's stock valued at $2,736,000 after purchasing an additional 14,671 shares during the period. Phoenix Financial Ltd. grew its holdings in Comcast by 9.0% in the fourth quarter. Phoenix Financial Ltd. now owns 45,442 shares of the cable giant's stock valued at $1,706,000 after purchasing an additional 3,771 shares during the period. Finally, Heritage Trust Co purchased a new stake in Comcast in the fourth quarter valued at approximately $4,840,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

CMCSA stock traded up $0.50 during midday trading on Wednesday, hitting $32.60. 1,415,706 shares of the company traded hands, compared to its average volume of 24,298,957. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The business has a 50 day simple moving average of $34.44 and a 200-day simple moving average of $34.86. The stock has a market capitalization of $120.37 billion, a price-to-earnings ratio of 5.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92.

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

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analysts Set New Price Targets

CMCSA has been the subject of several research reports. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. TD Cowen decreased their target price on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Rothschild & Co Redburn decreased their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. BNP Paribas Exane decreased their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. Finally, Citigroup decreased their target price on shares of Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.73.

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.