Swedbank AB Lowers Stake in Comcast Corporation $CMCSA

Key Points

• Swedbank AB reduced its stake in Comcast Corporation by 1.1%, owning 2,109,220 shares valued at approximately $77.83 million as of its latest filing.
• Comcast recently reported earnings of $1.25 per share, surpassing estimates, along with a revenue increase of 2.1% year over year, totaling $30.31 billion for the quarter.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 4.0%, with the payment set for October 22nd.

Swedbank AB lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,109,220 shares of the cable giant's stock after selling 23,738 shares during the period. Swedbank AB owned 0.06% of Comcast worth $77,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Sculati Wealth Management LLC raised its holdings in Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after acquiring an additional 285 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after buying an additional 300 shares during the period. Clearstead Trust LLC grew its stake in shares of Comcast by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after buying an additional 305 shares during the period. United Asset Strategies Inc. grew its stake in shares of Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after buying an additional 308 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of Comcast by 0.6% in the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock valued at $1,999,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Down 1.0%

Shares of NASDAQ:CMCSA opened at $33.06 on Friday. The company has a market cap of $122.06 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 2.00 and a beta of 0.93. The firm's 50-day simple moving average is $33.79 and its 200-day simple moving average is $34.60. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week 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 earnings per share 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 net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. As a group, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMCSA. Rosenblatt Securities lifted their target price on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Benchmark reiterated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Moffett Nathanson raised their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. One 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 company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $40.56.

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.

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