OLD National Bancorp IN Sells 10,637 Shares of Comcast Co. (NASDAQ:CMCSA)

OLD National Bancorp IN trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 22.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,139 shares of the cable giant’s stock after selling 10,637 shares during the quarter. OLD National Bancorp IN’s holdings in Comcast were worth $1,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Capital World Investors lifted its holdings in Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. Norges Bank bought a new position in Comcast during the 4th quarter worth $3,835,226,000. Geode Capital Management LLC lifted its holdings in shares of Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock worth $3,212,244,000 after buying an additional 1,006,272 shares in the last quarter. Dodge & Cox boosted its position in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

Comcast stock opened at $34.60 on Tuesday. The business has a 50 day moving average of $34.35 and a 200-day moving average of $36.27. The company has a market capitalization of $129.19 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.78 and a beta of 0.95. Comcast Co. has a 1 year low of $31.44 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. On average, equities research analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced 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 yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s payout ratio is presently 32.43%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays reduced their price target on Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Thursday, April 10th. Argus lowered shares of Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Finally, Citigroup reduced their price target on shares of Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.10.

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.