Bank of Montreal Can Sells 1,515,765 Shares of Comcast Corporation $CMCSA

Bank of Montreal Can reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 20.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,922,265 shares of the cable giant’s stock after selling 1,515,765 shares during the period. Bank of Montreal Can owned 0.16% of Comcast worth $211,366,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CMCSA. Nuveen LLC bought a new stake in shares of Comcast in the 1st quarter valued at about $940,015,000. Dodge & Cox boosted its holdings in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after buying an additional 12,586,329 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Comcast by 119.1% in the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock worth $280,238,000 after purchasing an additional 4,128,434 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Comcast by 76.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant’s stock worth $348,363,000 after purchasing an additional 4,096,382 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Down 3.1%

CMCSA stock opened at $26.98 on Tuesday. The firm’s fifty day simple moving average is $31.26 and its 200-day simple moving average is $33.27. The company has a market capitalization of $99.62 billion, a P/E ratio of 4.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $45.22.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. As a group, equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, January 14th. Comcast’s payout ratio is currently 21.96%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Benchmark dropped their target price on shares of Comcast from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp downgraded shares of Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday. Cowen reissued a “buy” rating on shares of Comcast in a research report on Friday. The Goldman Sachs Group reissued a “neutral” rating and set a $30.00 target price (down previously from $39.00) on shares of Comcast in a research report on Friday. Finally, Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.60.

About Comcast

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.