Comcast Corporation $CMCSA Shares Sold by AlTi Global Inc.

AlTi Global Inc. lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 214,995 shares of the cable giant’s stock after selling 22,482 shares during the period. AlTi Global Inc.’s holdings in Comcast were worth $6,092,000 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. Earned Wealth Advisors LLC bought a new stake in Comcast in the 1st quarter valued at about $210,000. Commonwealth Financial Services LLC bought a new position in Comcast in the 1st quarter worth about $218,000. Meeder Asset Management Inc. grew its position in Comcast by 80.3% in the 1st quarter. Meeder Asset Management Inc. now owns 137,452 shares of the cable giant’s stock worth $3,946,000 after purchasing an additional 61,216 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Comcast by 16.5% in the first quarter. Meeder Advisory Services Inc. now owns 75,418 shares of the cable giant’s stock valued at $2,165,000 after purchasing an additional 10,690 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock valued at $845,919,000 after purchasing an additional 507,097 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ CMCSA opened at $23.79 on Monday. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.01. The firm has a market capitalization of $84.98 billion, a PE ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67. The company’s 50 day simple moving average is $24.00 and its 200 day simple moving average is $27.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. BNP Paribas Exane lowered their target price on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Morgan Stanley cut their target price on Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. UBS Group reiterated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Finally, Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Comcast has an average rating of “Hold” and an average price target of $33.64.

About Comcast

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.