Forsta AP Fonden Sells 141,700 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Forsta AP Fonden has reduced its stake in Comcast Corporation by 12.4%, selling 141,700 shares in the first quarter, leaving their total holdings valued at approximately $36.875 million.
• Comcast's most recent earnings report revealed an earnings per share (EPS) of $1.25, surpassing expectations of $1.18, and a revenue increase of 2.1% year-over-year.
• A quarterly dividend of $0.33 per share has been declared, with an annualized yield of 4.2%, indicating a strong payout ratio of 21.82%.

Forsta AP Fonden reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 999,328 shares of the cable giant's stock after selling 141,700 shares during the quarter. Forsta AP Fonden's holdings in Comcast were worth $36,875,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CMCSA. Brighton Jones LLC increased its holdings in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the period. FIL Ltd boosted its stake in Comcast by 5.4% in the fourth quarter. FIL Ltd now owns 556,273 shares of the cable giant's stock worth $20,877,000 after buying an additional 28,527 shares in the last quarter. Advisory Services Network LLC grew its position in Comcast by 25.2% during the fourth quarter. Advisory Services Network LLC now owns 72,912 shares of the cable giant's stock valued at $2,736,000 after acquiring an additional 14,671 shares during the last quarter. Bessemer Group Inc. grew its position in Comcast by 31.4% during the fourth quarter. Bessemer Group Inc. now owns 2,520,213 shares of the cable giant's stock valued at $94,584,000 after acquiring an additional 601,657 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its stake in shares of Comcast by 9.0% during the fourth quarter. Phoenix Financial Ltd. now owns 45,442 shares of the cable giant's stock worth $1,706,000 after acquiring an additional 3,771 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 1.5%

CMCSA opened at $31.67 on Friday. The company has a market capitalization of $118.25 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. The firm has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $34.99. 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 52 week low of $31.44 and a 52 week high of $45.31.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's payout ratio is currently 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent analyst reports. BNP Paribas Exane lowered their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Morgan Stanley cut their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday. Rothschild & Co Redburn reduced their target price on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Bernstein Bank dropped their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock 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.

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