Intact Investment Management Inc. Decreases Position in Comcast Corporation $CMCSA

Intact Investment Management Inc. trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 50.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,700 shares of the cable giant’s stock after selling 111,500 shares during the quarter. Intact Investment Management Inc.’s holdings in Comcast were worth $3,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after buying an additional 1,257,196 shares during the last quarter. State Street Corp boosted its stake in 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 acquiring an additional 4,231,140 shares in the last quarter. Dodge & Cox grew its holdings in shares of Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares during the last quarter. Norges Bank purchased a new position in shares of Comcast during the second quarter worth about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Comcast by 7.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after purchasing an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Royal Bank Of Canada decreased their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. Loop Capital cut their target price on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Oppenheimer set a $38.00 price target on shares of Comcast in a research report on Tuesday, November 4th. Finally, TD Cowen reissued a “buy” rating on shares of Comcast in a research report on Friday, October 31st. Eleven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $35.53.

Comcast Stock Up 0.4%

CMCSA stock opened at $29.43 on Tuesday. The company has a market cap of $107.24 billion, a P/E ratio of 4.90, a P/E/G ratio of 2.06 and a beta of 0.81. 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 company’s 50-day moving average price is $28.25 and its 200 day moving average price is $30.46. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $38.40.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $31.20 billion during the quarter, compared to analysts’ expectations of $30.74 billion. Comcast had a return on equity of 18.06% and a net margin of 18.33%.Comcast’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. On average, research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s dividend payout ratio is presently 21.96%.

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.