Lockheed Martin Investment Management Co. Sells 43,090 Shares of Comcast Corporation $CMCSA

Lockheed Martin Investment Management Co. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 43.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 56,860 shares of the cable giant’s stock after selling 43,090 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Comcast were worth $1,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. M&G PLC boosted its holdings in shares of Comcast by 1.2% during the 3rd quarter. M&G PLC now owns 638,428 shares of the cable giant’s stock worth $14,045,000 after buying an additional 7,320 shares during the period. Kestra Investment Management LLC grew its stake in Comcast by 12.4% in the 3rd quarter. Kestra Investment Management LLC now owns 28,302 shares of the cable giant’s stock valued at $616,000 after buying an additional 3,132 shares during the last quarter. Private Management Group Inc. grew its stake in Comcast by 2.6% in the 3rd quarter. Private Management Group Inc. now owns 1,808,465 shares of the cable giant’s stock valued at $39,352,000 after buying an additional 45,016 shares during the last quarter. Joseph Group Capital Management raised its holdings in Comcast by 74.2% in the 3rd quarter. Joseph Group Capital Management now owns 1,519 shares of the cable giant’s stock worth $33,000 after acquiring an additional 647 shares during the period. Finally, Fulcrum Asset Management LLP raised its holdings in Comcast by 865.6% in the 3rd quarter. Fulcrum Asset Management LLP now owns 284,938 shares of the cable giant’s stock worth $6,155,000 after acquiring an additional 255,430 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CMCSA. Citigroup cut their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Thursday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $31.00 target price on shares of Comcast in a report on Monday, October 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of Comcast in a research report on Friday, October 2nd. UBS Group reiterated a “neutral” rating and set a $27.00 price target (down from $32.00) on shares of Comcast in a report on Tuesday, September 15th. Finally, BNP Paribas Exane reduced their price objective on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and a consensus target price of $28.77.

Comcast Price Performance

CMCSA opened at $24.51 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $87.04 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72. The company’s 50 day simple moving average is $23.09 and its 200-day simple moving average is $25.97. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same quarter last year, the firm earned $1.12 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that Comcast Corporation will post 3.54 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.4%. Comcast’s payout ratio is currently 41.77%.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.