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Empire Life Investments Inc. Lowers Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Comcast logo with Consumer Discretionary background

Key Points

  • Empire Life Investments Inc. reduced its stake in Comcast Corporation by 8.5%, selling 40,816 shares, leaving them with 437,819 shares valued at approximately $16.16 million.
  • Several institutional investors increased their holdings in Comcast, including Capital World Investors, which boosted its position by 8.6%, now owning over 141 million shares worth $5.31 billion.
  • The cable giant reported better-than-expected earnings, with an EPS of $1.25 and revenue of $30.31 billion, surpassing analysts' estimates.
  • MarketBeat previews the top five stocks to own by September 1st.

Empire Life Investments Inc. lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 437,819 shares of the cable giant's stock after selling 40,816 shares during the quarter. Empire Life Investments Inc.'s holdings in Comcast were worth $16,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter valued at $26,000. Abound Financial LLC purchased a new position in Comcast in the first quarter valued at $29,000. Retirement Wealth Solutions LLC increased its holdings in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% in 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. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of Comcast stock traded down $0.05 during trading on Tuesday, hitting $32.51. 27,433,895 shares of the company were exchanged, compared to its average volume of 21,250,816. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The stock has a market capitalization of $121.38 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 1.96 and a beta of 0.92. The firm has a 50 day moving average price of $34.76 and a 200 day moving average price of $35.07.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the firm posted $1.21 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect 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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group decreased their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday. Barclays decreased their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday. Rothschild & Co Redburn decreased their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and an average price target of $40.73.

Get Our Latest Stock Report on CMCSA

Comcast Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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