Comcast Corporation $CMCSA Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 38.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,069,749 shares of the cable giant’s stock after selling 5,123,487 shares during the quarter. Royal Bank of Canada’s holdings in Comcast were worth $231,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lowe Brockenbrough & Co. Inc. increased its position in Comcast by 4.9% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after acquiring an additional 352 shares during the period. Cora Capital Advisors LLC boosted its position in Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after acquiring an additional 362 shares during the period. Oakworth Capital Inc. boosted its position in Comcast by 7.4% during the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock worth $164,000 after acquiring an additional 377 shares during the period. WPG Advisers LLC grew its stake in shares of Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after purchasing an additional 384 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in shares of Comcast by 55.7% in the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock worth $32,000 after purchasing an additional 384 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and cut their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the company a “sector perform” rating in a research note on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. New Street Research decreased their price objective on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.96.

Comcast Trading Up 1.7%

Shares of CMCSA stock opened at $24.61 on Thursday. The stock has a 50-day simple moving average of $23.75 and a 200 day simple moving average of $27.17. The stock has a market capitalization of $87.91 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.98 and a beta of 0.67. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the business earned $1.25 earnings per share. Comcast’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Comcast’s payout ratio is currently 42.72%.

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.