New York Life Investment Management LLC Sells 20,046 Shares of Comcast Corporation $CMCSA

New York Life Investment Management LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 538,102 shares of the cable giant’s stock after selling 20,046 shares during the period. New York Life Investment Management LLC’s holdings in Comcast were worth $16,907,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC raised its position in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after acquiring an additional 436 shares during the last quarter. Avalon Trust Co increased its position in Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Howard Hughes Medical Institute acquired a new stake in Comcast during the 2nd quarter valued at approximately $29,000. Princeton Global Asset Management LLC lifted its position in shares of Comcast by 403.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after purchasing an additional 686 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Comcast in the 2nd quarter valued at $31,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CMCSA shares. Barclays set a $28.00 target price on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Evercore dropped their price objective on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Morgan Stanley lowered their target price on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and boosted their price target for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Finally, Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.90.

Comcast Trading Up 0.8%

NASDAQ CMCSA opened at $31.61 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.97. The business has a 50 day moving average price of $28.89 and a 200-day moving average price of $30.10. The company has a market cap of $115.18 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 2.39 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter last year, the firm posted $0.96 EPS. Comcast’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal 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 given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s payout ratio is presently 24.58%.

Comcast 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.