LGT Group Foundation Lowers Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• LGT Group Foundation sold 892,671 shares of Comcast Corporation, reducing its stake by 96.7% and leaving it with 30,647 shares valued at $1.13 million.
• Comcast is experiencing increased interest from institutional investors, with several funds significantly raising their stakes during the first quarter, totaling over 84% institutional ownership.
• Analysts have lowered price targets for Comcast, with an average target price now at $40.73 and the stock receiving an average rating of "Hold."

LGT Group Foundation reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 96.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,647 shares of the cable giant's stock after selling 892,671 shares during the period. LGT Group Foundation's holdings in Comcast were worth $1,131,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in Comcast in the 1st quarter valued at $26,000. Abound Financial LLC acquired a new position in Comcast in the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

CMCSA stock traded up $0.55 during trading hours on Friday, reaching $33.45. The stock had a trading volume of 20,700,567 shares, compared to its average volume of 24,396,354. The stock has a 50-day simple moving average of $34.38 and a 200 day simple moving average of $34.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $123.50 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly 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 company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the firm posted $1.21 EPS. The firm's revenue was up 2.1% on a year-over-year basis. Analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. UBS Group lowered their price target on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Bernstein Bank lowered their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. BNP Paribas Exane decreased their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Finally, Rosenblatt Securities upped their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.73.

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.