Railway Pension Investments Ltd Trims Position in Comcast Corporation $CMCSA

Key Points

• Railway Pension Investments Ltd. reduced its Comcast stake by 6.6% in the second quarter, selling 46,500 shares and retaining 658,400 shares valued at approximately $16.2 million.
• Comcast exceeded quarterly expectations with adjusted EPS of $1.04 versus the $0.97 consensus and revenue of $29.94 billion, though revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33 per share, implying a 5.0% annualized yield; analysts maintain a consensus “Hold” rating with an average price target of $32.96.

Railway Pension Investments Ltd trimmed its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 658,400 shares of the cable giant's stock after selling 46,500 shares during the quarter. Railway Pension Investments Ltd's holdings in Comcast were worth $16,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of Comcast by 4.9% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant's stock valued at $225,000 after buying an additional 352 shares during the period. Addison Advisors LLC grew its holdings in Comcast by 55.7% during the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock valued at $32,000 after buying an additional 384 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in Comcast by 48.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant's stock worth $34,000 after purchasing an additional 389 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Comcast by 0.9% during the first quarter. PFG Investments LLC now owns 41,771 shares of the cable giant's stock worth $1,199,000 after buying an additional 391 shares in the last quarter. Finally, CYBER HORNET ETFs LLC grew its stake in Comcast by 3.9% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 10,407 shares of the cable giant's stock worth $327,000 after acquiring an additional 392 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $26.62 on Tuesday. The firm has a market capitalization of $94.46 billion, a PE ratio of 8.61, a P/E/G ratio of 1.54 and a beta of 0.67. The business's fifty day moving average price is $24.56 and its two-hundred day moving average price is $26.60. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. On average, research analysts expect that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast's payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Rosenblatt Securities restated a "buy" rating and issued a $31.00 price target on shares of Comcast in a report on Friday, July 24th. Scotiabank set a $29.00 price target on Comcast in a report on Friday, July 24th. BNP Paribas Exane lowered their price objective on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and dropped their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group cut their price target on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.96.

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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