American Century Companies Inc. Cuts Stock Holdings in Comcast Corporation $CMCSA

American Century Companies Inc. reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 24.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,137,480 shares of the cable giant’s stock after selling 1,343,661 shares during the period. American Century Companies Inc. owned approximately 0.11% of Comcast worth $130,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC raised its position in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 436 shares in the last quarter. Avalon Trust Co increased its stake 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 buying an additional 624 shares during the period. Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the second quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new stake in Comcast in the second quarter valued at approximately $31,000. Finally, Corsicana & Co. purchased a new position in Comcast in the third quarter worth approximately $32,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of Comcast stock opened at $30.96 on Monday. The firm’s fifty day simple moving average is $29.86 and its 200-day simple moving average is $30.01. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97. The stock has a market capitalization of $111.39 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.41 and a beta of 0.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

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

Comcast Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is 24.58%.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of a number of recent analyst reports. BNP Paribas Exane downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a research report on Tuesday, February 24th. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Sanford C. Bernstein dropped their target price on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Rosenblatt Securities restated a “neutral” rating and issued a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Finally, Citigroup reaffirmed a “buy” rating and set a $33.00 price target (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $34.87.

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.