LGT Group Foundation Sells 892,671 Shares of Comcast Corporation (NASDAQ:CMCSA)

LGT Group Foundation lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 96.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,647 shares of the cable giant’s stock after selling 892,671 shares during the period. LGT Group Foundation’s holdings in Comcast were worth $1,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in Comcast by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 5,716,939 shares of the cable giant’s stock worth $210,776,000 after buying an additional 21,422 shares during the last quarter. Resona Asset Management Co. Ltd. increased its position in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after buying an additional 118,839 shares during the last quarter. AGF Management Ltd. increased its position in Comcast by 49.1% during the first quarter. AGF Management Ltd. now owns 496,081 shares of the cable giant’s stock worth $18,305,000 after buying an additional 163,375 shares during the last quarter. AIA Group Ltd increased its position in Comcast by 57.8% during the first quarter. AIA Group Ltd now owns 153,053 shares of the cable giant’s stock worth $5,648,000 after buying an additional 56,084 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. increased its position in Comcast by 7.5% during the first quarter. Financial Engines Advisors L.L.C. now owns 39,565 shares of the cable giant’s stock worth $1,460,000 after buying an additional 2,758 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMCSA. The Goldman Sachs Group lowered their price target on Comcast from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Arete Research raised Comcast to a “hold” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lowered their price target on Comcast from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Evercore ISI decreased their target price on Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Argus downgraded Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average target price of $40.73.

Comcast Stock Up 2.2%

NASDAQ CMCSA opened at $32.10 on Wednesday. The business has a fifty day moving average price of $34.44 and a two-hundred day moving average price of $34.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock has a market capitalization of $118.52 billion, a PE ratio of 5.31, a PEG ratio of 1.89 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last released its 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. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The firm had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

Comcast Company 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.