Miller Howard Investments Inc. NY Sells 398,054 Shares of Comcast Corporation $CMCSA

Key Points

• Miller Howard Investments cut its Comcast stake by 30.4%, selling 398,054 shares and leaving it with 909,243 shares valued at about $27.18 million, while overall institutional ownership stands at 84.32%.
• CEO Michael J. Cavanagh sold 57,947 shares (an 8.52% reduction of his position) at an average price of $32.66 for roughly $1.89 million; company insiders own 1.32% of Comcast.
• Comcast declared a quarterly dividend of $0.33 per share (annualized $1.32) with an ex-dividend date of April 1 and a yield of about 4.5%, payable April 22.

Miller Howard Investments Inc. NY cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 909,243 shares of the cable giant's stock after selling 398,054 shares during the period. Miller Howard Investments Inc. NY's holdings in Comcast were worth $27,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Krilogy Financial LLC grew its stake in shares of Comcast by 34.9% in the 4th quarter. Krilogy Financial LLC now owns 40,041 shares of the cable giant's stock valued at $1,178,000 after buying an additional 10,363 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Comcast by 3.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 119,839 shares of the cable giant's stock valued at $3,582,000 after buying an additional 3,921 shares during the period. MASTERINVEST Kapitalanlage GmbH grew its stake in shares of Comcast by 28.0% in the 4th quarter. MASTERINVEST Kapitalanlage GmbH now owns 113,548 shares of the cable giant's stock valued at $3,403,000 after buying an additional 24,814 shares during the period. GF Fund Management CO. LTD. grew its stake in shares of Comcast by 3.4% in the 4th quarter. GF Fund Management CO. LTD. now owns 766,628 shares of the cable giant's stock valued at $22,915,000 after buying an additional 24,896 shares during the period. Finally, Werba Rubin Papier Wealth Management grew its stake in shares of Comcast by 56.4% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 10,077 shares of the cable giant's stock valued at $301,000 after buying an additional 3,635 shares during the period. 84.32% of the stock is owned by institutional investors.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.32% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CMCSA. Bank of America upgraded Comcast from a "neutral" rating to a "buy" rating and raised their target price for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Zacks Research upgraded Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Arete Research set a $23.00 target price on Comcast in a research note on Tuesday, January 6th. Scotiabank reduced their target price on Comcast from $35.25 to $34.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 1st. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.81.

Comcast Price Performance

CMCSA stock opened at $29.63 on Monday. The company has a market capitalization of $106.60 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 2.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $36.66. The business has a 50-day simple moving average of $29.98 and a two-hundred day simple moving average of $29.11.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. Comcast's payout ratio is 24.58%.

Comcast Profile

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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