Alliancebernstein L.P. Decreases Stock Position in Comcast Corporation $CMCSA

Alliancebernstein L.P. lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 55.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,902,627 shares of the cable giant’s stock after selling 9,952,848 shares during the period. Alliancebernstein L.P. owned about 0.22% of Comcast worth $248,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in Comcast in the second quarter valued at $3,528,361,000. Dodge & Cox lifted its holdings in shares of Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares in the last quarter. Capital Research Global Investors boosted its position in Comcast by 46.1% during the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock worth $1,059,053,000 after purchasing an additional 10,633,206 shares during the period. Two Sigma Investments LP boosted its position in Comcast by 1,356.2% during the 3rd quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after purchasing an additional 6,105,867 shares during the period. Finally, First Trust Advisors LP increased its holdings in Comcast by 133.1% in the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock valued at $363,580,000 after purchasing an additional 5,817,614 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Royal Bank Of Canada lowered their target price 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. Scotiabank reduced their target price on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Morgan Stanley reduced their price target on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Finally, Arete Research set a $23.00 price objective on Comcast in a report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.87.

Comcast Stock Performance

CMCSA opened at $30.16 on Monday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.72. The stock has a market cap of $108.51 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79. The business’s 50 day moving average is $30.13 and its 200-day moving average is $29.82. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data 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. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.4%. Comcast’s payout ratio is 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

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.