Comcast Corporation $CMCSA Stock: Sterling Capital Management LLC Cuts Stake

Sterling Capital Management LLC lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 68.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,417 shares of the cable giant’s stock after selling 29,153 shares during the quarter. Sterling Capital Management LLC’s holdings in Comcast were worth $292,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. XXI Wealth LLC raised its holdings in Comcast by 48.1% in the 3rd quarter. XXI Wealth LLC now owns 24,519 shares of the cable giant’s stock worth $534,000 after acquiring an additional 7,966 shares during the period. Yousif Capital Management LLC grew its stake in shares of Comcast by 3.0% in the third quarter. Yousif Capital Management LLC now owns 450,242 shares of the cable giant’s stock worth $9,797,000 after acquiring an additional 13,007 shares during the last quarter. River Street Advisors LLC grew its position in Comcast by 5.9% in the 3rd quarter. River Street Advisors LLC now owns 14,235 shares of the cable giant’s stock worth $310,000 after purchasing an additional 798 shares during the last quarter. Compass Wealth Management LLC bought a new position in Comcast during the third quarter valued at about $77,000. Finally, Benin Management CORP raised its stake in shares of Comcast by 8.3% in the third quarter. Benin Management CORP now owns 13,101 shares of the cable giant’s stock valued at $285,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 4.3%

Shares of CMCSA stock opened at $23.22 on Friday. The firm’s fifty day moving average price is $23.40 and its two-hundred day moving average price is $26.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The firm has a market capitalization of $82.45 billion, a P/E ratio of 5.95, a PEG ratio of 1.57 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion during the quarter, compared to the consensus estimate of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. On average, equities analysts predict that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Wednesday, January 6th. Comcast’s payout ratio is presently 41.77%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMCSA. TD Cowen cut their price target on shares of Comcast from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Raymond James Financial reiterated a “market perform” rating on shares of Comcast in a research report on Friday, October 2nd. Freedom Broker lowered their price objective on Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Scotiabank reduced their price target on Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a research report on Friday, October 2nd. Finally, Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.17.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.