Cullen Capital Management LLC Trims Position in Comcast Corporation $CMCSA

Cullen Capital Management LLC lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 22.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,159,312 shares of the cable giant’s stock after selling 1,184,511 shares during the quarter. Cullen Capital Management LLC’s holdings in Comcast were worth $124,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Imprint Wealth LLC purchased a new position in shares of Comcast during the third quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast during the fourth quarter worth about $27,000. United Financial Planning Group LLC bought a new stake in Comcast in the 3rd quarter worth approximately $28,000. Olistico Wealth LLC bought a new stake in Comcast in the 4th quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. lifted its position in Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $24.50 on Friday. The firm has a market cap of $87.52 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. Comcast Corporation has a fifty-two week low of $23.13 and a fifty-two week high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50 day moving average price of $26.32 and a 200-day moving average price of $28.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Equities research analysts predict that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio is currently 25.98%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. Evercore boosted their target price on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Rosenblatt Securities dropped their target price on Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. New Street Research dropped their target price on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Finally, Wall Street Zen raised Comcast to a “hold” rating in a research note on Saturday, March 14th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.56.

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.