Comcast Corporation $CMCSA Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management reduced its stake in Comcast Corporation by 9%, owning 32.2 million shares valued at approximately $1.19 billion after selling over 3 million shares in the first quarter.
• Several institutional investors have also adjusted their positions in Comcast, with notable increases including Retirement Wealth Solutions raising their stake by 126.9%.
• Comcast recently declared a quarterly dividend of $0.33 per share, providing a yield of 3.9%, with the payout date set for October 22nd.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,184,008 shares of the cable giant's stock after selling 3,172,019 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.86% of Comcast worth $1,187,590,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisor OS LLC lifted its stake in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in Comcast during the first quarter worth approximately $335,000. DAVENPORT & Co LLC lifted its stake in Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC lifted its stake in Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock worth $2,632,000 after purchasing an additional 23,607 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock traded down $0.34 on Friday, reaching $33.06. 23,842,060 shares of the company's stock were exchanged, compared to its average volume of 19,553,770. The stock has a fifty day moving average of $33.79 and a 200-day moving average of $34.60. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm has a market cap of $122.06 billion, a PE ratio of 5.46, a P/E/G ratio of 2.00 and a beta of 0.93. 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 (NASDAQ:CMCSA - Get Free Report) last posted 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 company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. As a group, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CMCSA shares. Royal Bank Of Canada started coverage on Comcast in a research note on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price objective for the company. Sanford C. Bernstein reduced their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday. Morgan Stanley reduced their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has an average rating of "Hold" and a consensus price target 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.