Pictet Asset Management Holding SA Cuts Stake in Comcast Corporation $CMCSA

Pictet Asset Management Holding SA lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,106,142 shares of the cable giant’s stock after selling 82,449 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Comcast were worth $60,472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Comcast during the fourth quarter valued at approximately $2,498,626,000. Capital World Investors boosted its position in shares of Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after acquiring an additional 24,166,881 shares during the last quarter. Capital Research Global Investors grew its stake in Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. State Street Corp grew its stake in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Comcast by 2,970.5% in the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock valued at $221,028,000 after acquiring an additional 7,153,895 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CMCSA shares. BNP Paribas Exane dropped their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a report on Wednesday, April 8th. Citigroup decreased their target price on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research report on Monday. New Street Research dropped their price target on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Finally, Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.32.

Comcast Stock Performance

Comcast stock opened at $24.19 on Tuesday. The company’s 50-day moving average price is $25.19 and its 200-day moving average price is $28.02. 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 company has a market cap of $86.41 billion, a PE ratio of 4.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. Comcast Corporation has a twelve month low of $22.13 and a twelve month high of $36.66.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, equities research analysts forecast that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

Trending Headlines about Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast announced a tax-free spinoff that will create two independent public companies, giving shareholders stakes in both the connectivity business and the media/entertainment business. Reuters: Comcast to split cable business from media in NBCUniversal, Sky spinoff
• Positive Sentiment: The split is seen as a potential catalyst for higher valuations, since each new company can be priced on its own growth and cash-flow profile rather than as a bundled media-and-telecom conglomerate. Barrons: Comcast Spinoff Could Spark Next Wave of Media Deals
• Positive Sentiment: Market commentary noted unusually heavy call-option buying and strong trading volume, signaling traders are positioning for further upside after the announcement. Benzinga: Comcast Stock Soars On Split News, Does Disney Need To Make A Similar Move?
• Neutral Sentiment: Analysts also highlighted that the transaction could encourage more media-sector M&A and strategic restructuring, though the near-term benefit depends on execution and regulatory approval. CNBC: Comcast’s NBCUniversal spinoff raises hope for more deals
• Negative Sentiment: The company still faces structural challenges in its legacy pay-TV and media businesses, and the spinoff does not eliminate competitive pressure from streaming and telecom rivals. WSJ: Comcast to Split Media and Tech Businesses Into Two Separate Companies

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.