Fifth Third Bancorp reduced its stake in Comcast Co. (NASDAQ:CMCSA - Free Report) by 16.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 792,610 shares of the cable giant's stock after selling 153,243 shares during the period. Fifth Third Bancorp's holdings in Comcast were worth $29,247,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Comcast in the fourth quarter worth about $743,681,000. Bfsg LLC raised its position in Comcast by 752.8% during the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant's stock valued at $3,129,000 after purchasing an additional 73,590 shares during the last quarter. Mission Wealth Management LP lifted its holdings in Comcast by 8.3% in the 4th quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant's stock worth $1,633,000 after buying an additional 3,344 shares during the period. Aviva PLC grew its position in shares of Comcast by 7.2% in the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock worth $87,359,000 after buying an additional 156,986 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Comcast by 7.1% during the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant's stock valued at $1,279,813,000 after buying an additional 2,270,186 shares during the period. Institutional investors own 84.32% of the company's stock.
Comcast Stock Down 0.7%
Shares of Comcast stock traded down $0.26 during midday trading on Friday, hitting $35.01. The company had a trading volume of 17,189,721 shares, compared to its average volume of 22,054,943. The company has a 50 day moving average of $34.42 and a 200 day moving average of $36.20. The stock has a market capitalization of $130.72 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.78 and a beta of 0.95. Comcast Co. has a 52-week low of $31.44 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.
Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities analysts predict that Comcast Co. will post 4.33 earnings per share for the current fiscal year.
Comcast Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.77%. Comcast's dividend payout ratio is 32.43%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on CMCSA. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a report on Thursday, April 10th. Wells Fargo & Company lowered shares of Comcast from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Oppenheimer dropped their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Citigroup reduced their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.10.
Read Our Latest Research Report on CMCSA
About Comcast
(
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.
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