Bessemer Group Inc. Sells 214,528 Shares of Comcast Corporation (NASDAQ:CMCSA)

Bessemer Group Inc. decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,305,685 shares of the cable giant’s stock after selling 214,528 shares during the period. Bessemer Group Inc.’s holdings in Comcast were worth $85,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital World Investors lifted its position in shares of Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Norges Bank bought a new position in Comcast in the 4th quarter worth approximately $3,835,226,000. Geode Capital Management LLC lifted its holdings in Comcast by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock worth $3,212,244,000 after buying an additional 1,006,272 shares in the last quarter. Dodge & Cox boosted its position in Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock valued at $2,968,723,000 after buying an additional 5,039,823 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after buying an additional 5,402,377 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CMCSA shares. Morgan Stanley set a $37.00 price target on Comcast in a report on Friday, April 25th. Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Scotiabank reiterated a “sector perform” rating and set a $44.50 price target (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Barclays cut their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, UBS Group set a $44.50 price objective on shares of Comcast in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.10.

Comcast Trading Down 1.1%

NASDAQ CMCSA opened at $34.84 on Thursday. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $130.08 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.70 and a beta of 0.95. The stock’s 50-day moving average is $34.55 and its 200-day moving average is $35.70.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. Sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Wednesday, July 2nd. Comcast’s dividend payout ratio is 32.43%.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.