E. Ohman J or Asset Management AB Sells 10,949 Shares of Comcast Corporation $CMCSA

Key Points

• E. Ohman J or Asset Management AB reduced its stake in Comcast Corporation by 6.6%, selling 10,949 shares and retaining 155,651 shares valued at $5,555,000.
• Multiple hedge funds adjusted their positions in Comcast, with Brighton Jones LLC increasing its ownership by 150.9%, now holding 166,265 shares worth $6,240,000.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annualized yield of 4.0%, to be paid on October 22nd.

E. Ohman J or Asset Management AB cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,651 shares of the cable giant's stock after selling 10,949 shares during the period. E. Ohman J or Asset Management AB's holdings in Comcast were worth $5,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CMCSA. Brighton Jones LLC raised its position in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Toronto Dominion Bank increased its position in Comcast by 6.3% in the 4th quarter. Toronto Dominion Bank now owns 2,918,095 shares of the cable giant's stock valued at $109,513,000 after buying an additional 172,871 shares in the last quarter. True Wealth Design LLC increased its position in Comcast by 20.6% in the 4th quarter. True Wealth Design LLC now owns 4,090 shares of the cable giant's stock valued at $154,000 after buying an additional 699 shares in the last quarter. Tidal Investments LLC increased its position in Comcast by 88.2% in the 4th quarter. Tidal Investments LLC now owns 322,622 shares of the cable giant's stock valued at $12,108,000 after buying an additional 151,182 shares in the last quarter. Finally, Texas Bank & Trust Co bought a new stake in Comcast in the 4th quarter valued at about $773,000. 84.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CMCSA shares. Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. Rosenblatt Securities boosted their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada started coverage on Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective for the company. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Finally, Rothschild & Co Redburn decreased their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.56.

Comcast Trading Down 1.0%

Comcast stock opened at $33.06 on Monday. The stock has a market cap of $122.06 billion, a P/E ratio of 5.46, a PEG ratio of 1.98 and a beta of 0.93. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The firm's fifty day moving average price is $33.79 and its 200-day moving average price is $34.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

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

Comcast Announces Dividend

The company also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is currently 21.82%.

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.

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