Northwestern Mutual Wealth Management Co. Trims Position in Comcast Corporation $CMCSA

Northwestern Mutual Wealth Management Co. lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 220,938 shares of the cable giant’s stock after selling 54,453 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Comcast were worth $6,604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Comcast by 75.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock valued at $10,707,000 after purchasing an additional 146,339 shares during the period. Rothschild & Co Wealth Management UK Ltd grew its holdings in Comcast by 1.0% during the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant’s stock valued at $355,908,000 after purchasing an additional 113,461 shares during the period. Candriam S.C.A. grew its holdings in Comcast by 3.5% during the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock valued at $29,917,000 after purchasing an additional 32,262 shares during the period. Finally, North Dakota State Investment Board bought a new stake in Comcast during the fourth quarter valued at about $3,754,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 price target on shares of Comcast in a report on Thursday, April 23rd. KeyCorp reissued a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. BNP Paribas Exane cut their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a report on Wednesday, April 8th. New Street Research cut their price target on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.79.

Comcast Stock Performance

NASDAQ CMCSA opened at $24.85 on Wednesday. The firm has a market cap of $88.77 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $27.18 and a 200-day moving average price of $28.53. Comcast Corporation has a twelve month low of $24.53 and a twelve month high of $36.66.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, equities research analysts predict that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.3%. Comcast’s dividend payout ratio is presently 25.98%.

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.