Corebridge Financial Inc. Decreases Position in Comcast Corporation $CMCSA

Key Points

• Corebridge Financial Inc. reduced its stake in Comcast Corporation by 7.2%, selling 93,111 shares and now holding 1,206,168 shares valued at approximately $44.5 million.
• Analysts have set varying price targets for Comcast, with Morgan Stanley lowering its target from $40.00 to $38.00, while Moffett Nathanson increased theirs from $56.00 to $58.00, indicating mixed market sentiment.
• Comcast recently announced a quarterly dividend of $0.33 per share, reflecting an annual yield of 3.9%, with a payout ratio of 21.82%.

Corebridge Financial Inc. trimmed its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,206,168 shares of the cable giant's stock after selling 93,111 shares during the quarter. Corebridge Financial Inc.'s holdings in Comcast were worth $44,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dodge & Cox increased its position in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after buying an additional 15,115,074 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Comcast by 12.0% during 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 buying an additional 5,402,377 shares during the period. Northern Trust Corp boosted its stake in Comcast by 12.8% during 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 buying an additional 4,819,443 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Comcast by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after purchasing an additional 4,991,891 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Comcast by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after buying an additional 926,663 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 1.2%

Shares of NASDAQ CMCSA traded up $0.40 during trading hours on Friday, reaching $33.97. The stock had a trading volume of 16,715,894 shares, compared to its average volume of 24,118,857. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 2.02 and a beta of 0.92. The business's fifty day moving average price is $34.15 and its two-hundred day moving average price is $34.75. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 earnings per share. Analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced 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 is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast's dividend payout ratio is currently 21.82%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMCSA. Rosenblatt Securities boosted their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Scotiabank boosted their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, UBS Group cut their price target on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.73.

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.