Sumitomo Mitsui Trust Group Inc. Sells 613,921 Shares of Comcast Corporation $CMCSA

Key Points

• Sumitomo Mitsui Trust Group trimmed its Comcast stake by 5.2% in the first quarter, selling 613,921 shares and leaving it with 11,115,188 shares valued at about $319.1 million.
• Comcast reported better-than-expected quarterly results, posting $0.79 EPS versus $0.73 expected and revenue of $31.46 billion, up 5.3% year over year.
• The company also declared a quarterly dividend of $0.33 per share, implying an annualized yield of 5.7%, while analysts currently have a consensus Hold rating with an average price target of $34.04.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,115,188 shares of the cable giant's stock after selling 613,921 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.31% of Comcast worth $319,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Comcast during the 4th quarter valued at approximately $2,498,626,000. Capital World Investors boosted its stake in Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Capital Research Global Investors grew its holdings in Comcast by 65.1% during the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant's stock valued at $1,663,825,000 after buying an additional 21,958,603 shares in the last quarter. State Street Corp grew its holdings in Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock valued at $5,677,190,000 after buying an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Comcast by 2,970.5% during the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock valued at $221,028,000 after buying an additional 7,153,895 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.9%

Shares of CMCSA opened at $23.19 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $82.84 billion, a price-to-earnings ratio of 4.56, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. Comcast Corporation has a 1 year low of $22.13 and a 1 year high of $36.03. The business's 50 day simple moving average is $24.41 and its 200-day simple moving average is $27.78.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $30.42 billion. During the same period last year, the firm posted $1.09 earnings per share. Comcast's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research analyst reports. Rosenblatt Securities raised shares of Comcast from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $24.00 to $31.00 in a report on Tuesday, June 30th. Moffett Nathanson cut their target price on shares of Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Scotiabank boosted their price target on shares of Comcast from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Finally, Citigroup dropped their price objective on shares of Comcast from $35.50 to $32.00 and set a "buy" rating for the company in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.04.

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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