Kornitzer Capital Management Inc. KS Sells 125,232 Shares of Comcast Corporation (NASDAQ:CMCSA)

Kornitzer Capital Management Inc. KS reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 303,314 shares of the cable giant's stock after selling 125,232 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Comcast were worth $11,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CMCSA. OMNI 360 Wealth Inc. bought a new position in shares of Comcast during the first quarter valued at approximately $335,000. Aviva PLC raised its holdings in 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 purchasing an additional 156,986 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Comcast by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Finally, Transcend Capital Advisors LLC boosted its stake in shares of Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock valued at $2,834,000 after purchasing an additional 13,678 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Rothschild & Co Redburn lowered their price objective on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Scotiabank increased their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. TD Cowen lowered their price target on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, Oppenheimer decreased their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Comcast currently has an average rating of "Hold" and an average target price of $41.10.

Comcast Price Performance

Shares of CMCSA traded down $0.32 during mid-day trading on Wednesday, reaching $34.40. The stock had a trading volume of 21,096,118 shares, compared to its average volume of 21,983,423. The business has a fifty day moving average of $34.99 and a 200 day moving average of $35.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $128.44 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.68 and a beta of 0.95. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is presently 32.43%.

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.