Comcast Co. (NASDAQ:CMCSA) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,850,016 shares of the cable giant’s stock after selling 51,090 shares during the quarter. Comcast accounts for 1.5% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 25th largest position. Letko Brosseau & Associates Inc.’s holdings in Comcast were worth $81,123,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Comcast during the 4th quarter worth approximately $2,542,988,000. Northern Trust Corp increased its stake in Comcast by 0.3% during the 3rd quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock worth $2,040,522,000 after buying an additional 141,874 shares during the period. LSV Asset Management increased its stake in Comcast by 3.8% during the 4th quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock worth $687,947,000 after buying an additional 570,050 shares during the period. Raymond James & Associates increased its position in shares of Comcast by 2.3% in the 4th quarter. Raymond James & Associates now owns 14,692,327 shares of the cable giant’s stock valued at $644,258,000 after purchasing an additional 329,278 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Comcast by 5.4% in the 4th quarter. California Public Employees Retirement System now owns 11,432,426 shares of the cable giant’s stock valued at $501,312,000 after purchasing an additional 581,163 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of CMCSA opened at $40.03 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market cap of $157.06 billion, a P/E ratio of 10.59, a PEG ratio of 0.97 and a beta of 0.99. The company has a 50-day moving average of $39.79 and a two-hundred day moving average of $41.94. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. As a group, research analysts predict that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio is presently 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CMCSA shares. Citigroup dropped their price objective on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Comcast in a research report on Monday, May 13th. Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.33.

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.