Panagora Asset Management Inc. Sells 128,707 Shares of Comcast Corporation $CMCSA

Key Points

• Panagora Asset Management cut its Comcast stake by 7.4% in the fourth quarter, selling 128,707 shares and leaving it with 1,617,869 shares valued at about $48.4 million.
• Comcast recently reported better-than-expected quarterly results, with EPS of $0.79 versus $0.73 expected and revenue of $31.46 billion, up 5.3% year over year.
• The company announced a quarterly dividend of $0.33 per share, implying an annualized yield of 5.5%, while analysts currently rate the stock a consensus Hold with an average price target of $34.56.

Panagora Asset Management Inc. reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,617,869 shares of the cable giant's stock after selling 128,707 shares during the period. Panagora Asset Management Inc.'s holdings in Comcast were worth $48,358,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CMCSA. Brighton Jones LLC lifted its position in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. lifted its position in Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock valued at $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank lifted its position in Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant's stock valued at $1,507,000 after acquiring an additional 4,290 shares during the period. HUB Investment Partners LLC lifted its position in Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after acquiring an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC lifted its position in Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after acquiring an additional 15,865 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Down 2.2%

Shares of Comcast stock opened at $23.97 on Tuesday. 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 company has a 50-day simple moving average of $26.24 and a two-hundred day simple moving average of $28.31. Comcast Corporation has a 52-week low of $23.13 and a 52-week high of $36.66. The stock has a market capitalization of $85.63 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. 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 previous year, the company earned $1.09 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's payout ratio is presently 25.98%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent research reports. Rosenblatt Securities lowered their price target on shares of Comcast from $30.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. Royal Bank Of Canada lifted their price target on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Morgan Stanley lifted their target price on shares of Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, April 24th. Citigroup lifted their target price on shares of Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, New Street Research decreased their target price on shares of Comcast from $36.00 to $31.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Comcast has a consensus rating of "Hold" and an average price target of $34.56.

Comcast Company 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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