Fifth Third Bancorp Trims Holdings in Comcast Corporation $CMCSA

Fifth Third Bancorp lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 11.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 644,055 shares of the cable giant’s stock after selling 84,900 shares during the period. Fifth Third Bancorp’s holdings in Comcast were worth $20,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. lifted its position in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank boosted its stake in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Comcast in the second quarter valued at approximately $15,015,000. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Comcast by 403.5% in the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMCSA. Morgan Stanley dropped their price target on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Moffett Nathanson lowered their target price on Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Williams Trading set a $40.00 price target on Comcast in a report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 price target (down previously from $39.00) on shares of Comcast in a research report on Friday, October 31st. Finally, UBS Group lowered their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.90.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’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 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 legal filing with the SEC, which is available at this hyperlink. 1.26% of the stock is owned by corporate insiders.

Comcast Trading Down 0.8%

CMCSA opened at $31.57 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The company has a market cap of $113.58 billion, a P/E ratio of 5.88, a PEG ratio of 2.41 and a beta of 0.81. The business’s 50-day simple moving average is $29.37 and its 200-day simple moving average is $30.06.

Comcast (NASDAQ:CMCSA) last posted 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 firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. As a group, equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

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.