Comcast Corporation $CMCSA Shares Sold by Railway Pension Investments Ltd

Railway Pension Investments Ltd lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 6.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 658,400 shares of the cable giant’s stock after selling 46,500 shares during the period. Railway Pension Investments Ltd’s holdings in Comcast were worth $16,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Comcast in the fourth quarter worth $2,498,626,000. Capital World Investors grew its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after buying an additional 24,166,881 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Comcast by 65.1% during the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after purchasing an additional 21,958,603 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after buying an additional 10,359,800 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

Comcast stock opened at $26.62 on Tuesday. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The company has a market cap of $94.46 billion, a PE ratio of 8.61, a PEG ratio of 1.54 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average is $24.56 and its two-hundred day moving average is $26.60.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast’s payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Freedom Capital upgraded shares of Comcast to a “hold” rating in a research note on Friday, June 12th. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the company an “underweight” rating in a research report on Friday, July 24th. Weiss Ratings lowered shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. BNP Paribas Exane cut their price objective on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, July 14th. Finally, New Street Research cut their target price on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.96.

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.