Letko Brosseau & Associates Inc. Lowers Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Letko Brosseau & Associates Inc. has reduced its stake in Comcast Corporation by 6.1%, now holding 1,816,351 shares valued at approximately $67 million.
• Comcast's shares are currently trading at $32.50, reflecting a 1.0% decline, with a market capitalization of $121.35 billion.
• The company recently declared a quarterly dividend of $0.33, resulting in an annualized dividend yield of 4.06%.

Letko Brosseau & Associates Inc. lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,816,351 shares of the cable giant's stock after selling 117,130 shares during the period. Comcast comprises about 1.4% of Letko Brosseau & Associates Inc.'s portfolio, making the stock its 28th biggest position. Letko Brosseau & Associates Inc.'s holdings in Comcast were worth $67,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new position in Comcast during the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC increased its holdings in 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 in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast in the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 2.1%

Shares of NASDAQ:CMCSA traded down $0.71 during trading hours on Friday, reaching $32.52. The stock had a trading volume of 22,392,993 shares, compared to its average volume of 24,528,980. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The firm's 50 day moving average is $34.84 and its 200-day moving average is $35.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $121.42 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.58 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast's dividend payout ratio (DPR) is 32.43%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CMCSA shares. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Barclays cut their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday. Argus lowered Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, BNP Paribas Exane reduced their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.77.

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.