Zurcher Kantonalbank Zurich Cantonalbank Sells 22,445 Shares of Comcast Corporation $CMCSA

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 980,995 shares of the cable giant’s stock after selling 22,445 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Comcast were worth $29,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Comcast by 9.7% in the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock worth $236,810,000 after purchasing an additional 665,635 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of Comcast by 75.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock valued at $10,707,000 after purchasing an additional 146,339 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd boosted its stake in shares of Comcast by 1.0% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant’s stock valued at $355,908,000 after purchasing an additional 113,461 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of Comcast by 3.5% in the 3rd quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock valued at $29,917,000 after purchasing an additional 32,262 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co boosted its stake in shares of Comcast by 8.8% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 613,694 shares of the cable giant’s stock valued at $19,282,000 after purchasing an additional 49,800 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein reduced their target price on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday, January 6th. UBS Group reduced their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. 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 $31.00 to $37.00 in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average target price of $34.81.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Down 2.3%

Shares of NASDAQ CMCSA opened at $29.05 on Wednesday. The firm’s 50-day simple moving average is $29.88 and its 200 day simple moving average is $29.09. The company has a market cap of $104.52 billion, a price-to-earnings ratio of 5.41, a price-to-earnings-growth ratio of 2.47 and a beta of 0.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, research analysts expect that Comcast Corporation will post 3.46 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s payout ratio is currently 24.58%.

About Comcast

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.