Northwestern Mutual Wealth Management Co. Sells 19,047 Shares of Comcast Corporation $CMCSA

Key Points

• Northwestern Mutual Wealth Management Co. has reduced its stake in Comcast Corporation by 5.0%, selling 19,047 shares, and now holds 362,372 shares worth $13.37 million.
• Comcast reported a quarterly EPS of $1.25, exceeding analyst estimates, and a revenue increase of 2.1% year-over-year, amounting to $30.31 billion.
• The company declared a quarterly dividend of $0.33, providing a yield of 3.9%, with a payout ratio of 21.82%.

Northwestern Mutual Wealth Management Co. lessened its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 362,372 shares of the cable giant's stock after selling 19,047 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Comcast were worth $13,372,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CMCSA. Inlight Wealth Management LLC acquired a new position in Comcast in the 1st quarter valued at approximately $26,000. Abound Financial LLC acquired a new position in Comcast in the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC increased its stake 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 buying an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Comcast in the 4th quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates increased its stake 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 buying an additional 600 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Comcast stock traded up $0.40 during mid-day trading on Friday, reaching $33.97. The company had a trading volume of 16,719,253 shares, compared to its average volume of 24,122,004. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The company has a 50 day moving average of $34.15 and a 200-day moving average of $34.75. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.02 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, sell-side 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, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast's dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Barclays dropped their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Benchmark restated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. 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. Finally, Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.