Chevy Chase Trust Holdings LLC Reduces Stake in Comcast Corporation (NASDAQ:CMCSA)

Chevy Chase Trust Holdings LLC lowered its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,994,860 shares of the cable giant’s stock after selling 25,475 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Comcast worth $73,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMCSA. Raymond James Financial Inc. purchased a new position in shares of Comcast in the 4th quarter valued at approximately $743,681,000. Mission Wealth Management LP lifted its stake in shares of Comcast by 8.3% in the 4th quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock valued at $1,633,000 after purchasing an additional 3,344 shares during the period. Aviva PLC lifted its stake in shares of Comcast by 7.2% in the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant’s stock valued at $87,359,000 after purchasing an additional 156,986 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock valued at $1,279,813,000 after purchasing an additional 2,270,186 shares during the period. Finally, Argentarii LLC purchased a new position in shares of Comcast in the 4th quarter valued at approximately $769,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Scotiabank reaffirmed a “sector perform” rating and set a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Morgan Stanley set a $37.00 price objective on Comcast in a research report on Friday, April 25th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Comcast in a research report on Monday, April 28th. Finally, UBS Group set a $44.50 price objective on Comcast in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Comcast Stock Performance

Shares of CMCSA opened at $34.59 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The firm has a market capitalization of $129.15 billion, a P/E ratio of 8.50, a PEG ratio of 1.69 and a beta of 0.95. The business has a fifty day moving average of $34.51 and a 200 day moving average of $35.71.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Comcast’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s payout ratio is currently 32.43%.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.