Man Group plc Has $222.90 Million Stake in Comcast Corporation $CMCSA

Key Points

• Man Group plc reduced its Comcast stake by 11.1% in the fourth quarter, selling 928,363 shares and leaving it with 7,457,314 shares valued at about $222.9 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus the $0.73 estimate and revenue of $31.46 billion, up 5.3% year over year.
• The company announced a quarterly dividend of $0.33 per share, implying a 5.8% annualized yield, while analysts currently hold a consensus rating of "Hold" on the stock.

Man Group plc trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,457,314 shares of the cable giant's stock after selling 928,363 shares during the period. Man Group plc owned about 0.20% of Comcast worth $222,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd lifted its holdings in shares of Comcast by 1.0% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant's stock valued at $355,908,000 after purchasing an additional 113,461 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of Comcast in the fourth quarter valued at about $3,754,000. Vest Financial LLC lifted its holdings in shares of Comcast by 72.1% in the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant's stock valued at $6,961,000 after purchasing an additional 97,601 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Comcast by 9.7% in the third quarter. Victory Capital Management Inc. now owns 7,834,053 shares of the cable giant's stock valued at $246,146,000 after purchasing an additional 693,156 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $22.69 on Thursday. The stock has a 50 day moving average price of $26.05 and a 200 day moving average price of $28.26. Comcast Corporation has a 52 week low of $22.55 and a 52 week high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $81.05 billion, a PE ratio of 4.47, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analysts' expectations of $30.42 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Analysts predict that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.8%. Comcast's dividend payout ratio is currently 25.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMCSA. Rosenblatt Securities cut their price target on Comcast from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, June 5th. Wall Street Zen upgraded Comcast to a "hold" rating in a report on Saturday, March 14th. Moffett Nathanson cut their price target on Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday. Scotiabank increased their price target on Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane reduced their price target on Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus target price of $34.52.

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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