Heritage Investors Management Corp Reduces Stock Position in Comcast Corporation $CMCSA

Key Points

• Heritage Investors Management Corp cut its Comcast stake by 16.2% in the first quarter, selling 50,465 shares and ending with 261,541 shares valued at about $7.5 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus estimates of $0.73 and revenue of $31.46 billion, though earnings were down from a year earlier.
• The company also declared a quarterly dividend of $0.33 per share, equal to an annualized yield of 5.5%, while analysts’ overall view remains a consensus Hold with an average target price of $34.40.

Heritage Investors Management Corp lessened its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 261,541 shares of the cable giant's stock after selling 50,465 shares during the period. Heritage Investors Management Corp's holdings in Comcast were worth $7,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Imprint Wealth LLC purchased a new stake in Comcast in the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast during the fourth quarter valued at approximately $27,000. United Financial Planning Group LLC purchased a new position in shares of Comcast during the third quarter valued at approximately $28,000. Olistico Wealth LLC bought a new position in shares of Comcast during the fourth quarter valued at approximately $29,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock valued at $30,000 after acquiring an additional 691 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

Shares of Comcast stock opened at $23.79 on Friday. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.40. The firm has a market capitalization of $84.98 billion, a P/E ratio of 4.68, a P/E/G ratio of 1.95 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $24.86 and a two-hundred day simple moving average of $27.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period last year, the business earned $1.09 EPS. Comcast's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast's dividend payout ratio (DPR) is currently 25.98%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday. Scotiabank lifted their target price on shares of Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Citigroup reduced their price target on shares of Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a "hold" rating to a "buy" rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Tuesday. Finally, Freedom Capital upgraded shares of Comcast to a "hold" rating in a report on Friday, June 12th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $34.40.

Key Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has a strong earnings surprise track record, and recent Zacks/Yahoo analysis says its current setup could lead to another beat when it reports next quarter, which can lift investor confidence ahead of results.
• Positive Sentiment: Investors are seeing strategic optionality from Comcast’s planned separation of its media and technology businesses, including NBCUniversal and Sky, which could unlock value and sharpen the focus on the core broadband business. Comcast’s NBCUniversal Split Puts Broadband Back in Focus
• Positive Sentiment: Some commentary suggests Comcast’s cable-box viewing data could help its ad business in targeted streaming and connected TV, offering a potential way to offset decline in traditional pay TV.
• Neutral Sentiment: Goldman Sachs lowered its price target on Comcast to $26 from $29 and kept a neutral rating, signaling more cautious expectations even though the new target still implies upside from current levels.
• Neutral Sentiment: Coverage ahead of earnings highlights that investors are watching for execution on the spin-off, broadband trends, and margin pressure, keeping the stock tied to both near-term results and the breakup story.
• Negative Sentiment: Several reports note that Comcast shares have been under pressure recently because of tougher broadband competition, margin concerns, and lingering weakness in the stock’s longer-term performance.
• Negative Sentiment: There are also risks around Comcast’s data-driven advertising strategy, including viewer experience, churn, and privacy regulation, which could limit how much benefit the company gets from streaming ads.

Comcast Company Profile

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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