TCW Group Inc. Reduces Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• TCW Group Inc. reduced its stake in Comcast Corporation by 2.7%, selling 38,592 shares in the first quarter, resulting in total holdings worth approximately $50.95 million.
• Institutional investors collectively own 84.32% of Comcast stock, with significant positions being adjusted by firms such as Advisor OS LLC and DAVENPORT & Co LLC.
• Comcast's latest earnings report showed an EPS of $1.09, exceeding expectations, though revenue dipped by 0.6% year-over-year.

TCW Group Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,380,700 shares of the cable giant's stock after selling 38,592 shares during the period. TCW Group Inc.'s holdings in Comcast were worth $50,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Comcast during the fourth quarter valued at $960,000. Pictet Asset Management Holding SA lifted its holdings in shares of Comcast by 13.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,367,435 shares of the cable giant's stock worth $88,850,000 after acquiring an additional 287,321 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Comcast by 2.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 203,695 shares of the cable giant's stock worth $7,645,000 after acquiring an additional 5,666 shares during the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of Comcast by 2.7% in the 4th quarter. DnB Asset Management AS now owns 760,432 shares of the cable giant's stock worth $28,539,000 after acquiring an additional 20,312 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 2.8%

NASDAQ:CMCSA traded up $0.93 during mid-day trading on Thursday, hitting $33.43. The stock had a trading volume of 24,756,773 shares, compared to its average volume of 24,430,947. The stock has a 50-day simple moving average of $34.86 and a two-hundred day simple moving average of $35.16. The company has a market capitalization of $124.80 billion, a PE ratio of 8.21, a PEG ratio of 1.59 and a beta of 0.95. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. 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 (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is currently 32.43%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. BNP Paribas lowered shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a report on Thursday, April 10th. Wells Fargo & Company downgraded shares of Comcast from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $37.00 to $31.00 in a research report on Monday, April 14th. BNP Paribas Exane cut their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th. Bernstein Bank cut their target price on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Finally, Rothschild & Co Redburn cut their target price on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.13.

Comcast Profile

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.