Choreo LLC Sells 21,770 Shares of Comcast Corporation $CMCSA

Choreo LLC reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,755 shares of the cable giant’s stock after selling 21,770 shares during the period. Choreo LLC’s holdings in Comcast were worth $5,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after buying an additional 7,917,335 shares during the last quarter. Dodge & Cox increased its holdings in Comcast by 1.2% during the third quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock valued at $3,536,884,000 after buying an additional 1,295,598 shares during the last quarter. Capital Research Global Investors increased its holdings in Comcast by 46.1% during the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after buying an additional 10,633,206 shares during the last quarter. Legal & General Group Plc increased its holdings in Comcast by 2.9% during the third quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant’s stock valued at $757,372,000 after buying an additional 686,520 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Comcast by 12.6% during the third quarter. Franklin Resources Inc. now owns 22,047,063 shares of the cable giant’s stock valued at $692,719,000 after buying an additional 2,470,742 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen reduced their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday. Scotiabank reduced their target price on shares of Comcast from $35.25 to $34.00 and set a “sector perform” rating for the company in a report on Wednesday, April 1st. Finally, Barclays set a $28.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.68.

Insider Activity

In related 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 completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $27.93 on Monday. The firm has a fifty day moving average price of $30.15 and a 200-day moving average price of $29.20. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $100.49 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $36.66.

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

Comcast Dividend Announcement

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 4.7%. Comcast’s dividend payout ratio is 24.58%.

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.