MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 62,421 Shares of Comcast Co. (NASDAQ:CMCSA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 53.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,006 shares of the cable giant’s stock after selling 62,421 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Comcast were worth $1,993,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on CMCSA shares. Argus cut Comcast from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. KeyCorp reduced their price objective on Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Scotiabank reiterated a “sector perform” rating and set a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Citigroup reduced their price objective on Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company cut Comcast from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Comcast has a consensus rating of “Moderate Buy” and a consensus price target of $42.10.

Comcast Stock Performance

NASDAQ CMCSA opened at $35.01 on Monday. The firm has a market cap of $130.72 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $34.46 and a 200-day moving average price of $36.06. Comcast Co. has a twelve month low of $31.44 and a twelve month high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. As a group, equities research analysts predict that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s payout ratio is presently 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.