Nordea Investment Management AB Sells 1,314,028 Shares of Comcast Corporation $CMCSA

Nordea Investment Management AB cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,785,959 shares of the cable giant’s stock after selling 1,314,028 shares during the quarter. Nordea Investment Management AB owned 0.10% of Comcast worth $113,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Everpar Advisors LLC raised its stake in shares of Comcast by 14.6% in the fourth quarter. Everpar Advisors LLC now owns 10,686 shares of the cable giant’s stock valued at $319,000 after purchasing an additional 1,360 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in Comcast during the fourth quarter worth $300,000. Gilbert & Cook Inc. increased its holdings in Comcast by 42.8% in the 4th quarter. Gilbert & Cook Inc. now owns 21,283 shares of the cable giant’s stock valued at $636,000 after buying an additional 6,380 shares during the period. Precedent Wealth Partners LLC increased its holdings in Comcast by 1.5% in the 4th quarter. Precedent Wealth Partners LLC now owns 40,921 shares of the cable giant’s stock valued at $1,223,000 after buying an additional 600 shares during the period. Finally, AFG Fiduciary Services Limited Partnership acquired a new position in shares of Comcast in the 4th quarter valued at $624,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

NASDAQ:CMCSA opened at $29.02 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $104.41 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.72. The company’s 50-day moving average price is $30.27 and its two-hundred day moving average price is $29.67.

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 company had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. During the same quarter last year, the business posted $0.96 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent research reports. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Benchmark dropped their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Scotiabank decreased their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a report on Friday, January 30th. TD Cowen lowered their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Arete Research set a $23.00 target price on Comcast in a research report on Tuesday, January 6th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.87.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was 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 in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.