Comcast Corporation $CMCSA Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in Comcast Corporation by 3.0%, holding 979,230 shares valued at approximately $36.1 million following the sale of 30,719 shares.
• The recent quarterly earnings report showed Comcast had an EPS of $1.25, exceeding analysts' expectations of $1.18, with a revenue of $30.31 billion.
• Comcast announced a quarterly dividend of $0.33 per share, leading to an annualized dividend of $1.32 and a yield of 3.9%.

MetLife Investment Management LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 979,230 shares of the cable giant's stock after selling 30,719 shares during the period. MetLife Investment Management LLC's holdings in Comcast were worth $36,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in Comcast in the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC increased 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 purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates increased 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 purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMCSA shares. Scotiabank boosted their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Morgan Stanley reduced their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Moffett Nathanson boosted their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Down 1.0%

NASDAQ CMCSA traded down $0.33 on Tuesday, hitting $33.68. 22,273,252 shares of the stock traded hands, compared to its average volume of 23,853,060. The stock has a 50-day moving average of $34.17 and a 200 day moving average of $34.76. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a market capitalization of $124.35 billion, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 2.04 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 (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Comcast's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's dividend payout ratio is presently 21.82%.

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.