Comcast Corporation $CMCSA Stock Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,212 shares of the cable giant’s stock after selling 40,996 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Comcast were worth $11,298,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CMCSA. Bank of America Corp DE grew its position in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after buying an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Comcast by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock worth $845,919,000 after buying an additional 507,097 shares during the period. First Trust Advisors LP increased its stake in shares of Comcast by 4.9% during the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock worth $390,231,000 after buying an additional 630,902 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after acquiring an additional 10,359,800 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Comcast by 5.7% in the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock valued at $306,227,000 after acquiring an additional 574,300 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Morgan Stanley dropped their price objective on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Bank of America restated a “buy” rating and issued a $35.00 price objective (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Finally, BNP Paribas Exane decreased their price objective on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.81.

Comcast Stock Performance

Shares of CMCSA opened at $22.36 on Wednesday. The company has a market capitalization of $79.35 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. Comcast Corporation has a 52-week low of $20.48 and a 52-week high of $32.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $24.01 and a 200 day moving average price of $24.72.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Research analysts predict that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is 42.72%.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and set a $31 price target, implying substantial upside from recent trading levels. Comcast’s Buy Rating Reiterated at Rosenblatt Securities
• Positive Sentiment: Comcast’s low valuation and roughly 6.3% dividend yield are attracting value investors; billionaire investor David Einhorn reportedly added a new CMCSA position. Comcast Stock Has an Attractive Valuation and Offers a Dividend Yield of 6.32%
• Positive Sentiment: Investors may be positioning for another earnings beat, with streaming and studio businesses expected to provide support ahead of the October 22 third-quarter report. Comcast Gears Up to Report Q3 Earnings
• Neutral Sentiment: Analysts expect third-quarter earnings of approximately $0.98 per share, one cent below the estimate from 30 days earlier. Key metrics, including broadband, wireless, streaming and theme-park performance, will likely determine the stock’s next move. Comcast Gears Up to Report Q3 Earnings
• Negative Sentiment: Put-option volume surged to 77,125 contracts, about 122% above normal, indicating increased short-term hedging or bearish speculation around the earnings event.
• Negative Sentiment: Bearish commentary argues that Comcast needs a turnaround while customers increasingly expect promotional offers, potentially pressuring revenue and profitability. Broadband weakness, softer theme-park demand and higher spending remain additional risks. Comcast: Wall Street Wants a Turnaround, Customers Want More Freebies

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.