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

Sawgrass Asset Management LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 94.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,654 shares of the cable giant's stock after selling 404,640 shares during the quarter. Sawgrass Asset Management LLC's holdings in Comcast were worth $836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Comcast by 8.6% in 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 acquiring an additional 11,255,683 shares during the period. Norges Bank acquired a new stake in shares of Comcast in the fourth quarter valued at approximately $3,835,226,000. Geode Capital Management LLC boosted its holdings in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares during the period. Dodge & Cox boosted its holdings in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $34.53 on Monday. The firm's 50-day simple moving average is $34.50 and its 200 day simple moving average is $35.77. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The firm has a market capitalization of $128.92 billion, a PE ratio of 8.48, a P/E/G ratio of 1.69 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.82%. The ex-dividend date is Wednesday, July 2nd. Comcast's payout ratio is 32.43%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BNP Paribas lowered shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective on the stock. in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Scotiabank reiterated a "sector perform" rating and issued a $44.50 price objective (down from $45.00) on shares of Comcast in a research report on Friday, April 25th. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered shares of 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 research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $42.10.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.