Shell Asset Management Co. Sells 17,064 Shares of Comcast Corporation $CMCSA

Shell Asset Management Co. trimmed its position in Comcast Corporation (NASDAQ:CMCSA) by 69.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,415 shares of the cable giant’s stock after selling 17,064 shares during the quarter. Shell Asset Management Co.’s holdings in Comcast were worth $233,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC boosted its stake in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Avalon Trust Co grew its holdings in shares of Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Howard Hughes Medical Institute bought a new position in shares of Comcast in the second quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its stake in 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. Finally, Newbridge Financial Services Group Inc. bought a new stake in Comcast during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMCSA shares. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Royal Bank Of Canada reduced their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Finally, BNP Paribas Exane reissued a “neutral” rating on shares of Comcast in a report on Tuesday, January 27th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.90.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Company insiders own 1.32% of the company’s stock.

Comcast Price Performance

CMCSA opened at $31.60 on Thursday. 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’s 50 day simple moving average is $29.55 and its 200 day simple moving average is $30.07. The firm has a market cap of $113.69 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 2.46 and a beta of 0.81. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97.

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

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s payout ratio is presently 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.