ICICI Prudential Asset Management Co Ltd Sells 59,646 Shares of Comcast Corporation $CMCSA

ICICI Prudential Asset Management Co Ltd trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 50.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,329 shares of the cable giant’s stock after selling 59,646 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Comcast were worth $1,743,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd increased its holdings in Comcast by 1.0% in the third 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 during the last quarter. North Dakota State Investment Board bought a new stake in Comcast in the fourth quarter valued at about $3,754,000. Varma Mutual Pension Insurance Co increased its holdings in Comcast by 8.8% in the third 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 during the last quarter. Finally, Vest Financial LLC increased its holdings in shares of Comcast by 72.1% in the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock worth $6,961,000 after acquiring an additional 97,601 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Friday, April 24th. Wall Street Zen raised Comcast to a “hold” rating in a research report on Saturday, March 14th. Citigroup lifted their price target on Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Evercore increased their price objective on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.56.

Comcast Price Performance

Comcast stock opened at $23.97 on Friday. The firm has a market capitalization of $85.63 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 1-year low of $23.13 and a 1-year high of $36.66. The firm’s fifty day moving average price is $26.39 and its two-hundred day moving average price is $28.34.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s payout ratio is 25.98%.

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.