Comcast Corporation $CMCSA Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 73.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 446,781 shares of the cable giant’s stock after selling 1,250,328 shares during the period. CIBC Private Wealth Group LLC’s holdings in Comcast were worth $14,038,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CMCSA. Osaic Holdings Inc. increased its position in shares of Comcast by 39.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock valued at $37,954,000 after purchasing an additional 300,898 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Comcast by 9.7% in the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock valued at $236,810,000 after buying an additional 665,635 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake 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 buying an additional 146,339 shares in the last quarter. 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 worth $29,917,000 after acquiring an additional 32,262 shares during the period. Finally, 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 worth $355,908,000 after acquiring an additional 113,461 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. Benchmark cut their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and increased their target price for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Morgan Stanley reduced their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Finally, Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.87.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is currently owned by company insiders.

Comcast Price Performance

CMCSA stock opened at $28.98 on Friday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.72. The firm has a 50-day moving average of $30.26 and a two-hundred day moving average of $29.76. The firm has a market capitalization of $104.27 billion, a PE ratio of 5.40, a P/E/G ratio of 2.23 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

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

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s payout ratio is 24.58%.

Comcast 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.