Glenmede Trust Co. NA Decreases Stock Position in Comcast Corporation $CMCSA

Key Points

• Glenmede Trust reduced its Comcast stake by 5.1% in the first quarter, selling 48,463 shares and retaining 902,743 shares valued at approximately $25.9 million.
• Institutional investors and hedge funds collectively own 84.32% of Comcast, with several major investors—including Capital World Investors, Capital Research Global Investors and State Street—recently increasing their positions.
• Comcast beat quarterly earnings and revenue expectations, but revenue declined 1.2% year over year. The company declared a $0.33 quarterly dividend, equivalent to a 5.5% annualized yield, while analysts maintain an overall “Hold” rating.

Glenmede Trust Co. NA decreased its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 902,743 shares of the cable giant's stock after selling 48,463 shares during the quarter. Glenmede Trust Co. NA's holdings in Comcast were worth $25,918,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CMCSA. Norges Bank purchased a new position in shares of Comcast in the 4th quarter valued at about $2,498,626,000. Capital World Investors raised its holdings in Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors raised its holdings in Comcast by 65.1% in the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant's stock valued at $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock worth $333,509,000 after acquiring an additional 10,359,800 shares during the last quarter. Finally, State Street Corp grew its holdings in Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Up 1.2%

Shares of NASDAQ:CMCSA opened at $23.96 on Friday. The firm has a 50 day simple moving average of $23.70 and a 200-day simple moving average of $27.12. Comcast Corporation has a twelve month low of $21.28 and a twelve month high of $34.45. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $85.03 billion, a PE ratio of 7.75, a P/E/G ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the firm posted $1.25 EPS. The company's revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of analyst reports. Moffett Nathanson reduced their price objective on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday. KeyCorp reissued a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Citigroup cut their price target on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a research note on Monday, June 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $31.00 price target on shares of Comcast in a report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $32.96.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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