Kornitzer Capital Management Inc. KS Cuts Stock Holdings in Comcast Corporation $CMCSA

Kornitzer Capital Management Inc. KS lessened its holdings in Comcast Corporation (NASDAQ:CMCSA) by 52.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,897 shares of the cable giant’s stock after selling 148,175 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Comcast were worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC lifted its holdings in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the period. Global Trust Asset Management LLC increased its holdings in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares in the last quarter. Avalon Trust Co lifted its stake in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Howard Hughes Medical Institute purchased a new stake in Comcast during the second quarter worth about $29,000. Finally, Princeton Global Asset Management LLC grew its position in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after buying an additional 686 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Oppenheimer set a $38.00 price target on shares of Comcast in a research report on Tuesday, November 4th. Evercore ISI lowered their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Arete Research set a $23.00 target price on shares of Comcast in a report on Tuesday, January 6th. Finally, Scotiabank set a $37.50 price target on shares of Comcast in a report on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.47.

Comcast Price Performance

Comcast stock opened at $28.70 on Wednesday. The stock has a market capitalization of $104.58 billion, a P/E ratio of 4.78, a P/E/G ratio of 2.07 and a beta of 0.81. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $38.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day moving average is $28.28 and its two-hundred day moving average is $30.42.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $30.74 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. Comcast’s dividend payout ratio (DPR) is 21.96%.

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.