American International Group Inc. Decreases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

American International Group Inc. reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,521,975 shares of the cable giant’s stock after selling 80,092 shares during the quarter. American International Group Inc.’s holdings in Comcast were worth $53,223,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Comcast by 0.7% during the third quarter. Vanguard Group Inc. now owns 405,068,330 shares of the cable giant’s stock worth $11,880,654,000 after purchasing an additional 2,987,515 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Comcast by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 102,801,153 shares of the cable giant’s stock worth $3,015,159,000 after purchasing an additional 1,232,157 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Comcast by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock worth $1,245,022,000 after purchasing an additional 189,845 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Comcast by 1.1% during the first quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant’s stock worth $1,987,094,000 after purchasing an additional 473,150 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Comcast by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,470,582 shares of the cable giant’s stock valued at $1,415,280,000 after acquiring an additional 1,873,972 shares in the last quarter. 82.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Comcast in a report on Thursday, April 6th. UBS Group boosted their target price on shares of Comcast from $35.00 to $41.00 in a research note on Friday, April 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Comcast from $50.00 to $55.00 in a research note on Tuesday, May 2nd. Barclays boosted their target price on shares of Comcast from $36.00 to $38.00 in a research note on Monday, May 1st. Finally, Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $49.00 in a research note on Monday, May 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.21.

Comcast Stock Up 1.5 %

Shares of CMCSA stock traded up $0.57 during trading on Friday, hitting $39.66. 14,670,143 shares of the company were exchanged, compared to its average volume of 18,915,428. 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 firm has a market capitalization of $165.34 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 0.85 and a beta of 0.99. The business’s 50-day simple moving average is $38.65 and its 200 day simple moving average is $37.34. Comcast Co. has a twelve month low of $28.39 and a twelve month high of $44.66.

Comcast (NASDAQ:CMCSA – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The cable giant reported $0.92 EPS for the quarter, topping the consensus estimate of $0.80 by $0.12. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $29.34 billion. Comcast had a net margin of 4.71% and a return on equity of 19.07%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, analysts forecast that Comcast Co. will post 3.75 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, July 3rd. Comcast’s payout ratio is presently 87.88%.

About Comcast

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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.