Resona Asset Management Co. Ltd. Sells 59,219 Shares of Comcast Corporation $CMCSA

Resona Asset Management Co. Ltd. trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,271,187 shares of the cable giant’s stock after selling 59,219 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Comcast were worth $39,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Comcast by 7.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,736,234 shares of the cable giant’s stock worth $117,392,000 after acquiring an additional 266,124 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Comcast by 20.0% during the 3rd quarter. UniSuper Management Pty Ltd now owns 288,176 shares of the cable giant’s stock valued at $9,054,000 after purchasing an additional 48,107 shares during the last quarter. Westfuller Advisors LLC increased its position in Comcast by 29.2% during the 3rd quarter. Westfuller Advisors LLC now owns 17,088 shares of the cable giant’s stock worth $537,000 after purchasing an additional 3,858 shares in the last quarter. Tranquilli Financial Advisor LLC lifted its stake in Comcast by 22.6% in the 3rd quarter. Tranquilli Financial Advisor LLC now owns 28,668 shares of the cable giant’s stock valued at $901,000 after purchasing an additional 5,280 shares during the last quarter. Finally, Jmac Enterprises LLC grew its stake in shares of Comcast by 12.0% during the third quarter. Jmac Enterprises LLC now owns 26,496 shares of the cable giant’s stock worth $833,000 after buying an additional 2,839 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of research reports. KeyCorp cut Comcast from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 30th. Benchmark lowered their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Loop Capital dropped their target price on Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Barclays set a $28.00 price target on Comcast and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Oppenheimer set a $38.00 price objective on Comcast in a research note on Tuesday, November 4th. Eleven analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.53.

Comcast Stock Performance

Shares of CMCSA stock opened at $29.30 on Friday. The stock has a market capitalization of $106.77 billion, a PE ratio of 4.88, a PEG ratio of 2.06 and a beta of 0.81. The business’s 50 day simple moving average is $28.21 and its 200 day simple moving average is $30.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a one year low of $25.75 and a one year high of $38.40.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $31.20 billion during the quarter, compared to analyst estimates of $30.74 billion. During the same quarter last year, the business earned $1.12 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a yield of 4.5%. Comcast’s payout ratio is presently 21.96%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.