Comcast Corporation $CMCSA Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,645,251 shares of the cable giant’s stock after selling 70,967 shares during the period. Panagora Asset Management Inc.’s holdings in Comcast were worth $60,710,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Advisor OS LLC lifted its position in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in shares of Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after buying an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast in the first quarter worth $335,000. DAVENPORT & Co LLC increased its stake in shares of Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after buying an additional 1,261,278 shares during the last quarter. Finally, American Financial Group Inc. increased its stake in shares of Comcast by 29.0% in the first quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant’s stock worth $9,852,000 after buying an additional 60,000 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMCSA. UBS Group dropped their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, August 1st. Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Benchmark restated a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Citigroup restated a “buy” rating on shares of Comcast in a research note on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.73.

Comcast Stock Up 1.2%

CMCSA stock opened at $33.97 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The firm has a fifty day moving average price of $34.14 and a two-hundred day moving average price of $34.74. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.01 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Comcast’s dividend payout ratio is currently 21.82%.

About Comcast

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.