Comcast Corporation (NASDAQ:CMCSA) Shares Sold by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC reduced its stake in Comcast Corporation (CMCSA) by 23.4% in Q1, now holding 28,577 shares valued at over $1 million.
• Several major investors, including Capital World Investors and Ameriprise Financial Inc., increased their holdings, showing strong institutional interest in the company.
• Comcast recently announced a quarterly dividend of $0.33 per share, representing a 4.06% yield and a payout ratio of 32.43%.

NorthRock Partners LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,577 shares of the cable giant's stock after selling 8,753 shares during the period. NorthRock Partners LLC's holdings in Comcast were worth $1,054,000 as of its most recent SEC filing.

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

Comcast Stock Performance

Shares of CMCSA stock opened at $32.50 on Thursday. The firm has a market cap of $121.35 billion, a P/E ratio of 7.99, a PEG ratio of 1.59 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The stock's 50-day moving average is $34.86 and its two-hundred day moving average is $35.16.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.06%. The ex-dividend date was Wednesday, July 2nd. Comcast's payout ratio is 32.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMCSA. TD Cowen cut their target price on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Rosenblatt Securities boosted their price objective on Comcast from $36.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a research note on Thursday, April 10th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Bernstein Bank cut their price target on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast has an average rating of "Hold" and an average target price of $41.13.

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.

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