Erste Asset Management GmbH Sells 73,121 Shares of Comcast Corporation $CMCSA

Erste Asset Management GmbH lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 50.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 71,133 shares of the cable giant’s stock after selling 73,121 shares during the quarter. Erste Asset Management GmbH’s holdings in Comcast were worth $2,240,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cape Investment Advisory Inc. increased its stake in Comcast by 2.6% during the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after acquiring an additional 307 shares during the last quarter. OneAscent Family Office LLC boosted its holdings in shares of Comcast by 4.9% in the 2nd quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock worth $252,000 after purchasing an additional 332 shares during the period. Titleist Asset Management LLC boosted its holdings in shares of Comcast by 4.7% in the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after purchasing an additional 342 shares during the period. Lakeshore Capital Group Inc. increased its position in shares of Comcast by 2.6% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock valued at $428,000 after purchasing an additional 343 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Comcast by 1.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 32,064 shares of the cable giant’s stock valued at $1,144,000 after buying an additional 351 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CMCSA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. TD Cowen lowered their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Moffett Nathanson cut their price target on shares of Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and an average price target of $34.87.

Comcast Stock Performance

CMCSA stock opened at $30.96 on Friday. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $37.97. The business has a 50-day moving average price of $29.86 and a 200 day moving average price of $30.03. The company has a market capitalization of $111.39 billion, a P/E ratio of 5.77, a PEG ratio of 2.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. Comcast’s payout ratio is 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.32% of the stock is owned by company insiders.

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.