SRB Corp Trims Stock Holdings in Comcast Corporation $CMCSA

SRB Corp lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 49.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,007,150 shares of the cable giant’s stock after selling 1,002,697 shares during the quarter. Comcast makes up approximately 2.4% of SRB Corp’s portfolio, making the stock its 17th biggest position. SRB Corp’s holdings in Comcast were worth $37,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor OS LLC raised its stake in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after acquiring an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in Comcast by 10.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after acquiring an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in Comcast during the 1st quarter valued at approximately $335,000. DAVENPORT & Co LLC raised its stake in shares of Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after buying an additional 1,261,278 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in shares of Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant’s stock worth $2,834,000 after buying an additional 13,678 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Comcast stock opened at $33.43 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average of $34.33 and a two-hundred day moving average of $34.78. The company has a market capitalization of $123.43 billion, a price-to-earnings ratio of 5.53, a PEG ratio of 2.01 and a beta of 0.92. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. Comcast’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CMCSA. The Goldman Sachs Group cut their target price on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Barclays cut their target price on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Evercore ISI cut their target price on Comcast from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Morgan Stanley cut their target price on Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Finally, Benchmark reissued a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $40.73.

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.