Cullen Capital Management LLC Sells 507,962 Shares of Comcast Corporation $CMCSA

Cullen Capital Management LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,838,708 shares of the cable giant’s stock after selling 507,962 shares during the quarter. Comcast accounts for approximately 2.0% of Cullen Capital Management LLC’s portfolio, making the stock its 22nd largest position. Cullen Capital Management LLC owned about 0.13% of Comcast worth $172,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Comcast in the 2nd quarter worth about $3,528,361,000. Dodge & Cox boosted its stake in Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares during the last quarter. First Trust Advisors LP increased its holdings in Comcast by 133.1% during the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after purchasing an additional 5,817,614 shares in the last quarter. Worldquant Millennium Advisors LLC raised its stake in shares of Comcast by 554.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after purchasing an additional 4,240,876 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Comcast by 2.5% in the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after purchasing an additional 4,231,140 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $27.23 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $28.09 and a two-hundred day simple moving average of $31.78. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $40.20. The firm has a market cap of $99.22 billion, a price-to-earnings ratio of 4.53, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. Analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent research reports. Scotiabank decreased their price target on Comcast from $45.50 to $41.50 and set a “sector perform” rating for the company in a report on Friday, October 31st. Benchmark reduced their target price on shares of Comcast from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, October 31st. TD Cowen lowered their target price on shares of Comcast from $46.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 31st. UBS Group set a $34.00 price target on shares of Comcast in a report on Friday, October 31st. Finally, Arete Research reduced their price objective on shares of Comcast from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Hold” and a consensus target price of $35.78.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.