Sumitomo Life Insurance Co. Has $779,000 Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Sumitomo Life Insurance Co. cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 51.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,100 shares of the cable giant's stock after selling 22,458 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Comcast were worth $779,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast in the first quarter worth approximately $335,000. Aviva PLC grew its stake in shares of Comcast by 7.2% in the fourth quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock worth $87,359,000 after acquiring an additional 156,986 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after acquiring an additional 1,261,278 shares during the period. Geode Capital Management LLC grew its stake in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after acquiring an additional 1,006,272 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of Comcast by 21.7% in the first quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock worth $2,834,000 after acquiring an additional 13,678 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 0.9%

CMCSA stock traded up $0.30 during midday trading on Thursday, hitting $34.70. 17,542,010 shares of the company's stock were exchanged, compared to its average volume of 21,965,728. The stock has a market capitalization of $129.56 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $35.37. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same quarter last year, the firm earned $1.04 EPS. The business's revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMCSA. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Citigroup lowered their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Arete Research raised shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, TD Cowen reduced their price objective on shares of Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.10.

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.