Swiss Life Asset Management Ltd Sells 156,214 Shares of Comcast Corporation $CMCSA

Key Points

• Swiss Life Asset Management Ltd reduced its Comcast stake by 17.0% in the fourth quarter, selling 156,214 shares and leaving it with 765,045 shares valued at about $22.9 million.
• Comcast shares were down 1.5% to $25.03, near their 52-week low, even as the company reported better-than-expected quarterly earnings of $0.79 per share on revenue of $31.46 billion.
• Wall Street remains mixed on CMCSA: analysts currently have a Hold consensus, with an average target price of $34.94, while insider activity also showed CEO Michael J. Cavanagh selling shares earlier this year.

Swiss Life Asset Management Ltd cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 765,045 shares of the cable giant's stock after selling 156,214 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Comcast were worth $22,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CMCSA. Capital Research Global Investors raised its holdings in Comcast by 46.1% during the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock valued at $1,059,053,000 after acquiring an additional 10,633,206 shares during the period. State Street Corp increased its holdings in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after purchasing an additional 7,917,335 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock worth $221,028,000 after purchasing an additional 7,153,895 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Comcast by 1,356.2% in the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock worth $205,993,000 after purchasing an additional 6,105,867 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of Comcast by 554.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock worth $178,634,000 after purchasing an additional 4,240,876 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 1.5%

Shares of NASDAQ:CMCSA opened at $25.03 on Tuesday. Comcast Corporation has a 1 year low of $24.87 and a 1 year high of $36.66. The business has a 50 day simple moving average of $28.86 and a two-hundred day simple moving average of $28.86. The firm has a market capitalization of $89.41 billion, a PE ratio of 4.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, equities analysts predict that Comcast Corporation will post 3.58 EPS for the current year.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Citigroup lifted their target price on Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a report on Friday, April 24th. TD Cowen reduced their target price on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, January 30th. KeyCorp reaffirmed a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Finally, BNP Paribas Exane reduced their target price on Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a report on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $34.94.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

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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