Rockefeller Capital Management L.P. Cuts Stock Position in Comcast Co. (NASDAQ:CMCSA)

Posted by Defense World Staff on Jun 18th, 2023

Rockefeller Capital Management L.P. cut its holdings in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 713,775 shares of the cable giant’s stock after selling 471,703 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Comcast were worth $24,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Ironwood Wealth Management LLC. boosted its stake in Comcast by 2.4% during the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock worth $724,000 after buying an additional 363 shares during the period. United Bank boosted its stake in Comcast by 17.4% during the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock worth $1,745,000 after buying an additional 5,532 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Comcast by 29.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock worth $190,261,000 after buying an additional 928,627 shares during the period. Covestor Ltd boosted its stake in Comcast by 104.4% during the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock worth $163,000 after buying an additional 1,773 shares during the period. Finally, First Western Trust Bank bought a new stake in shares of Comcast during the first quarter worth $482,000. 82.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CMCSA shares. Deutsche Bank Aktiengesellschaft lifted their target price on Comcast from $50.00 to $55.00 in a research report on Tuesday, May 2nd. Loop Capital lifted their target price on Comcast from $46.00 to $50.00 in a research report on Friday, April 28th. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $49.00 in a research report on Monday, May 1st. UBS Group lifted their target price on Comcast from $35.00 to $41.00 in a research report on Friday, April 28th. Finally, Atlantic Securities upgraded Comcast from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $44.00 in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average target price of $45.21.

Comcast Stock Performance

Shares of Comcast stock opened at $41.20 on Friday. Comcast Co. has a one year low of $28.39 and a one year high of $43.72. The company has a market capitalization of $171.76 billion, a PE ratio of 31.21, a P/E/G ratio of 0.92 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50-day simple moving average of $39.64 and a two-hundred day simple moving average of $38.03.

Comcast (NASDAQ:CMCSA – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The cable giant reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.12. Comcast had a return on equity of 19.07% and a net margin of 4.71%. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $29.34 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts expect that Comcast Co. will post 3.75 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, July 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.82%. Comcast’s payout ratio is 87.88%.

Comcast Company Profile

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Comcast Corp. engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand.