Fifth Third Bancorp Sells 238,136 Shares of Comcast Corporation $CMCSA

Fifth Third Bancorp trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 20.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 921,325 shares of the cable giant’s stock after selling 238,136 shares during the quarter. Fifth Third Bancorp’s holdings in Comcast were worth $20,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Bollard Group LLC raised its position in Comcast by 1.1% in the 1st quarter. Bollard Group LLC now owns 37,607 shares of the cable giant’s stock worth $1,080,000 after purchasing an additional 405 shares during the last quarter. Foster Group Inc. lifted its holdings in Comcast by 5.7% during the 2nd quarter. Foster Group Inc. now owns 8,595 shares of the cable giant’s stock worth $211,000 after buying an additional 460 shares in the last quarter. Smallwood Wealth Investment Management LLC boosted its position in Comcast by 6.7% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 7,375 shares of the cable giant’s stock valued at $160,000 after buying an additional 460 shares during the last quarter. NFSG Corp boosted its position in Comcast by 12.4% in the 1st quarter. NFSG Corp now owns 4,202 shares of the cable giant’s stock valued at $121,000 after buying an additional 463 shares during the last quarter. Finally, Alliance Wealth Advisors LLC boosted its position in Comcast by 3.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 16,761 shares of the cable giant’s stock valued at $411,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.5%

Shares of Comcast stock opened at $25.16 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 12 month low of $20.48 and a 12 month high of $32.85. The business has a fifty day simple moving average of $22.96 and a 200 day simple moving average of $25.89. The stock has a market cap of $89.34 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72.

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

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be given a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. Comcast’s dividend payout ratio is currently 41.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMCSA shares. Scotiabank dropped their target price on Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research report on Friday, October 2nd. Wells Fargo & Company set a $23.00 price target on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Weiss Ratings upgraded Comcast from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. KeyCorp lowered Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price objective for the company. in a research report on Thursday, September 24th. Finally, Barclays set a $24.00 price objective on Comcast and gave the stock an “equal weight” rating in a report on Tuesday, September 29th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus price target of $28.77.

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.