Livforsakringsbolaget Skandia Omsesidigt Sells 83,100 Shares of Comcast Corporation $CMCSA

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 37.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,918 shares of the cable giant’s stock after selling 83,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Comcast were worth $4,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Comcast during the second quarter worth $3,528,361,000. Dodge & Cox grew its position in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Capital Research Global Investors increased its stake in Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after buying an additional 10,633,206 shares during the last quarter. State Street Corp lifted its position in Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Comcast by 1,356.2% during the 3rd quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after buying an additional 6,105,867 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.9%

Shares of CMCSA stock opened at $30.08 on Wednesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72. The stock has a market cap of $108.22 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 2.37 and a beta of 0.79. The firm’s 50-day moving average is $30.23 and its 200-day moving average is $29.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is currently 24.58%.

Insider Activity at Comcast

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 transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of several analyst reports. Barclays set a $28.00 price objective on Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday. Zacks Research downgraded Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Daiwa Securities Group lowered their price target on Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Finally, Citigroup reiterated a “buy” rating and set a $33.00 price objective (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.87.

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.