Perpetual Ltd Sells 57,448 Shares of Comcast Corporation $CMCSA

Key Points

• Perpetual Ltd reduced its stake in Comcast Corporation by 66.1% during the second quarter, now holding 29,483 shares valued at approximately $1,052,000.
• Institutional investors own 84.32% of Comcast's stock, with notable increases in holdings from firms such as Pacer Advisors Inc. and KBC Group NV.
• Comcast announced a quarterly dividend of $0.33 per share, with an ex-dividend date set for October 1st, reflecting an annualized yield of 4.2%.

Perpetual Ltd trimmed its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 66.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,483 shares of the cable giant's stock after selling 57,448 shares during the quarter. Perpetual Ltd's holdings in Comcast were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of Comcast in the 1st quarter worth $940,015,000. Dodge & Cox boosted its position in shares of Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the period. KBC Group NV grew its stake in Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after buying an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Comcast by 119.1% in the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock valued at $280,238,000 after acquiring an additional 4,128,434 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent analyst reports. Sanford C. Bernstein decreased their price objective on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. UBS Group dropped their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Rosenblatt Securities raised their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Moffett Nathanson boosted their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Arete Research raised shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.56.

Comcast Price Performance

Shares of CMCSA traded down $0.05 during midday trading on Friday, reaching $31.59. The stock had a trading volume of 53,783,241 shares, compared to its average volume of 22,130,610. The company's 50-day moving average is $33.45 and its 200 day moving average is $34.46. The company has a market capitalization of $116.64 billion, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. 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 Corporation has a 12-month low of $31.03 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. On average, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

About Comcast

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.