Strive Financial Group LLC Sells 41,159 Shares of Comcast Corporation $CMCSA

Strive Financial Group LLC reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 77.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,705 shares of the cable giant’s stock after selling 41,159 shares during the quarter. Strive Financial Group LLC’s holdings in Comcast were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CMCSA. Norges Bank acquired a new position in Comcast during the 4th quarter worth $2,498,626,000. Capital World Investors increased its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after buying an additional 24,166,881 shares during the period. Capital Research Global Investors raised its position in shares of Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after acquiring an additional 21,958,603 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after acquiring an additional 10,359,800 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CMCSA shares. Royal Bank Of Canada set a $26.00 price objective on Comcast and gave the stock a “sector perform” rating in a research report on Friday, July 24th. The Goldman Sachs Group reduced their target price on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and lowered their price target for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. BNP Paribas Exane dropped their price target on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Finally, Moffett Nathanson cut their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.96.

Comcast Price Performance

Comcast stock opened at $26.49 on Friday. The firm has a market capitalization of $94.00 billion, a P/E ratio of 8.57, a PEG ratio of 1.89 and a beta of 0.68. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.38. The business has a 50-day moving average of $24.86 and a 200-day moving average of $26.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the company posted $1.25 EPS. Comcast’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.0%. Comcast’s dividend payout ratio (DPR) is 42.72%.

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.