Skba Capital Management LLC Sells 93,591 Shares of Comcast Corporation $CMCSA

Skba Capital Management LLC cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 32.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,740 shares of the cable giant’s stock after selling 93,591 shares during the period. Skba Capital Management LLC’s holdings in Comcast were worth $6,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Norges Bank bought a new stake in shares of Comcast in the second quarter valued at about $3,528,361,000. Dodge & Cox raised its stake in Comcast by 18.1% in the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. First Trust Advisors LP boosted its holdings in Comcast by 133.1% in the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock valued at $363,580,000 after purchasing an additional 5,817,614 shares during the period. Worldquant Millennium Advisors LLC grew its position in shares of Comcast by 554.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after purchasing an additional 4,240,876 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMCSA. Moffett Nathanson cut their price target on Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Rosenblatt Securities restated a “neutral” rating and issued a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. UBS Group cut their price objective on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. TD Cowen decreased their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Citigroup reaffirmed a “buy” rating and set a $33.00 price target (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.87.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by corporate insiders.

Comcast Trading Up 0.6%

NASDAQ:CMCSA opened at $31.01 on Wednesday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The stock’s fifty day moving average price is $29.93 and its two-hundred day moving average price is $29.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $111.57 billion, a P/E ratio of 5.77, a P/E/G ratio of 2.40 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s payout ratio is currently 24.58%.

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.