Comcast (NASDAQ:CMCSA) Price Target Cut to $28.00 by Analysts at The Goldman Sachs Group

Comcast (NASDAQ:CMCSA) had its price target cut by The Goldman Sachs Group from $30.00 to $28.00 in a research report sent to investors on Wednesday,MarketScreener reports. They currently have a neutral rating on the cable giant’s stock.

CMCSA has been the topic of several other reports. Citigroup restated a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 target price on shares of Comcast in a research report on Friday, January 30th. Sanford C. Bernstein cut their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Benchmark reduced their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, 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 research note on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $34.79.

Comcast Price Performance

Shares of CMCSA stock opened at $28.73 on Wednesday. The stock has a 50-day moving average price of $30.29 and a 200 day moving average price of $29.59. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $103.37 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 2.28 and a beta of 0.79. Comcast has a 12 month low of $25.75 and a 12 month high of $37.72.

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, beating analysts’ consensus estimates of $0.75 by $0.09. The company 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 company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Research analysts expect that Comcast will post 4.33 EPS for the current year.

Comcast Announces Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. State Street Corp raised its holdings in Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after buying an additional 6,117,946 shares during the period. Capital World Investors raised its holdings in Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after buying an additional 24,166,881 shares during the period. Dodge & Cox lifted its stake in Comcast by 0.4% in the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after buying an additional 399,596 shares in the last quarter. Finally, Norges Bank bought a new position in Comcast in the second quarter valued at approximately $3,528,361,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.