The Manufacturers Life Insurance Company Cuts Stock Position in Comcast Corporation $CMCSA

The Manufacturers Life Insurance Company cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 55.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,585,376 shares of the cable giant’s stock after selling 4,436,692 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of Comcast worth $102,936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. KCM Investment Advisors LLC lifted its position in Comcast by 4.0% during the 1st quarter. KCM Investment Advisors LLC now owns 23,382 shares of the cable giant’s stock worth $671,000 after acquiring an additional 893 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Comcast by 26.5% during the first quarter. Quantinno Capital Management LP now owns 3,251,923 shares of the cable giant’s stock worth $93,363,000 after purchasing an additional 681,383 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Comcast by 181.7% during the first quarter. Lazard Asset Management LLC now owns 1,021,827 shares of the cable giant’s stock worth $29,337,000 after purchasing an additional 659,094 shares during the period. Family Manage LLC boosted its position in Comcast by 41.4% in the first quarter. Family Manage LLC now owns 13,416 shares of the cable giant’s stock valued at $385,000 after buying an additional 3,931 shares during the last quarter. Finally, Intelligence Driven Advisers LLC increased its holdings in Comcast by 84.5% in the 1st quarter. Intelligence Driven Advisers LLC now owns 15,564 shares of the cable giant’s stock worth $447,000 after buying an additional 7,128 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the company from $34.00 to $32.00 in a report on Tuesday, June 30th. Citigroup decreased their price objective on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a report on Monday, June 29th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. New Street Research reduced their price target on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Finally, Barclays set a $26.00 price target on Comcast and gave the company an “equal weight” rating in a report on Friday. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has an average rating of “Hold” and an average target price of $32.96.

Comcast Trading Up 6.1%

CMCSA stock opened at $24.19 on Wednesday. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market cap of $86.41 billion, a P/E ratio of 7.83, a PEG ratio of 1.87 and a beta of 0.67. The company’s 50-day simple moving average is $23.76 and its 200-day simple moving average is $27.20.

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 the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, equities analysts forecast that Comcast Corporation will post 3.5 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s payout ratio 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.