Clarkston Capital Partners LLC Sells 42,275 Shares of Comcast Corporation $CMCSA

Clarkston Capital Partners LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 933,319 shares of the cable giant’s stock after selling 42,275 shares during the period. Clarkston Capital Partners LLC’s holdings in Comcast were worth $29,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of Comcast in the 3rd quarter worth $9,480,000. LGT Group Foundation increased its position in Comcast by 1,462.8% during the third quarter. LGT Group Foundation now owns 456,942 shares of the cable giant’s stock valued at $14,138,000 after acquiring an additional 427,703 shares during the last quarter. Kiltearn Partners LLP lifted its holdings in Comcast by 2.5% in the third quarter. Kiltearn Partners LLP now owns 1,084,861 shares of the cable giant’s stock valued at $34,086,000 after acquiring an additional 26,300 shares during the period. Diversify Advisory Services LLC boosted its position in Comcast by 25.7% in the third quarter. Diversify Advisory Services LLC now owns 49,774 shares of the cable giant’s stock worth $1,564,000 after purchasing an additional 10,167 shares during the last quarter. Finally, ProVise Management Group LLC boosted its position in Comcast by 3.5% in the third quarter. ProVise Management Group LLC now owns 511,738 shares of the cable giant’s stock worth $16,079,000 after purchasing an additional 17,457 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 1.0%

CMCSA stock opened at $31.91 on Monday. The business’s 50-day moving average price is $30.06 and its 200-day moving average price is $29.94. The stock has a market cap of $114.81 billion, a P/E ratio of 5.94, a PEG ratio of 2.49 and a beta of 0.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. During the same period in the prior year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders 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 dividend yield of 4.1%. Comcast’s dividend payout ratio is 24.58%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several research reports. Royal Bank Of Canada reduced their price target on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. Barclays set a $28.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $37.00 in a report on Monday, January 12th. Benchmark decreased their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.87.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by insiders.

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.