Comcast Corporation $CMCSA Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in Comcast Corporation by 31.4%, now holding 1,927,695 shares worth approximately $71.13 million.
• Comcast's stock currently has a consensus rating of "Hold" with an average target price of $40.73, following various adjustments by analysts.
• The company will pay a quarterly dividend of $0.33 on October 22nd, which translates to an annualized yield of 3.9%.

Korea Investment CORP lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 31.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,927,695 shares of the cable giant's stock after selling 883,183 shares during the quarter. Korea Investment CORP owned about 0.05% of Comcast worth $71,132,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Aptus Capital Advisors LLC lifted its position in shares of Comcast by 0.4% during the first quarter. Aptus Capital Advisors LLC now owns 236,426 shares of the cable giant's stock worth $8,724,000 after purchasing an additional 865 shares in the last quarter. Versor Investments LP lifted its position in shares of Comcast by 47.0% during the first quarter. Versor Investments LP now owns 53,800 shares of the cable giant's stock worth $1,985,000 after purchasing an additional 17,200 shares in the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Comcast by 7.1% during the first quarter. Freestone Capital Holdings LLC now owns 339,554 shares of the cable giant's stock worth $12,530,000 after purchasing an additional 22,577 shares in the last quarter. Affinity Investment Advisors LLC raised its holdings in Comcast by 4.2% in the first quarter. Affinity Investment Advisors LLC now owns 42,381 shares of the cable giant's stock valued at $1,564,000 after acquiring an additional 1,721 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in Comcast by 5.6% in the first quarter. Northwest & Ethical Investments L.P. now owns 459,858 shares of the cable giant's stock worth $16,969,000 after acquiring an additional 24,370 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several analyst reports. Rothschild & Co Redburn lowered their price target on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. BNP Paribas Exane dropped their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, New Street Research dropped their price objective on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.73.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.55 during midday trading on Friday, hitting $34.15. 25,267,336 shares of the stock were exchanged, compared to its average volume of 24,360,090. The stock has a market cap of $126.09 billion, a P/E ratio of 5.64, a PEG ratio of 2.01 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a 50 day moving average price of $34.21 and a 200-day moving average price of $34.77.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. On average, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's payout ratio is presently 21.82%.

Comcast 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.