Madison Asset Management LLC Sells 376,716 Shares of Comcast Corporation $CMCSA

Madison Asset Management LLC trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 75.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,521 shares of the cable giant’s stock after selling 376,716 shares during the period. Madison Asset Management LLC’s holdings in Comcast were worth $3,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Comcast during the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new position in Comcast during the third quarter valued at about $28,000. Olistico Wealth LLC bought a new position in Comcast during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. boosted its holdings in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Comcast during the fourth quarter valued at approximately $33,000. 84.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CMCSA shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Citigroup lifted their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a report on Friday, April 24th. BNP Paribas Exane decreased their price objective on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Scotiabank lifted their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.79.

Comcast Stock Up 0.2%

Shares of CMCSA opened at $24.94 on Thursday. The company has a market capitalization of $89.09 billion, a P/E ratio of 4.91, a PEG ratio of 2.00 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 Corporation has a one year low of $24.53 and a one year high of $36.66. The business’s 50 day simple moving average is $28.62 and its 200-day simple moving average is $28.80.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts predict that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is presently 25.98%.

About Comcast

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.