Comcast Corporation $CMCSA Stock Holdings Reduced by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in Comcast Corporation (NASDAQ:CMCSA) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 519,212 shares of the cable giant’s stock after selling 40,996 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Comcast were worth $11,298,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC increased its position in shares of Comcast by 9.1% during the 3rd quarter. CWA Asset Management Group LLC now owns 13,189 shares of the cable giant’s stock worth $287,000 after purchasing an additional 1,099 shares during the last quarter. Columbia Asset Management raised its holdings in Comcast by 5.1% in the 3rd quarter. Columbia Asset Management now owns 32,620 shares of the cable giant’s stock valued at $710,000 after buying an additional 1,570 shares during the period. Foundation Resource Management Inc. raised its holdings in Comcast by 57.0% in the 3rd quarter. Foundation Resource Management Inc. now owns 1,071,254 shares of the cable giant’s stock valued at $23,310,000 after buying an additional 388,834 shares during the period. Herold Advisors Inc. lifted its position in Comcast by 5.1% in the third quarter. Herold Advisors Inc. now owns 16,414 shares of the cable giant’s stock valued at $357,000 after buying an additional 793 shares during the last quarter. Finally, Sculati Wealth Management LLC lifted its position in Comcast by 4.6% in the third quarter. Sculati Wealth Management LLC now owns 42,516 shares of the cable giant’s stock valued at $879,000 after buying an additional 1,876 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Key Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and set a $31 price target, implying substantial upside from recent trading levels. Comcast’s Buy Rating Reiterated at Rosenblatt Securities
• Positive Sentiment: Comcast’s low valuation and roughly 6.3% dividend yield are attracting value investors; billionaire investor David Einhorn reportedly added a new CMCSA position. Comcast Stock Has an Attractive Valuation and Offers a Dividend Yield of 6.32%
• Positive Sentiment: Investors may be positioning for another earnings beat, with streaming and studio businesses expected to provide support ahead of the October 22 third-quarter report. Comcast Gears Up to Report Q3 Earnings
• Neutral Sentiment: Analysts expect third-quarter earnings of approximately $0.98 per share, one cent below the estimate from 30 days earlier. Key metrics, including broadband, wireless, streaming and theme-park performance, will likely determine the stock’s next move. Comcast Gears Up to Report Q3 Earnings
• Negative Sentiment: Put-option volume surged to 77,125 contracts, about 122% above normal, indicating increased short-term hedging or bearish speculation around the earnings event.
• Negative Sentiment: Bearish commentary argues that Comcast needs a turnaround while customers increasingly expect promotional offers, potentially pressuring revenue and profitability. Broadband weakness, softer theme-park demand and higher spending remain additional risks. Comcast: Wall Street Wants a Turnaround, Customers Want More Freebies

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CMCSA shares. BNP Paribas Exane lowered their target price on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Barclays set a $24.00 price target on shares of Comcast and gave the company an “equal weight” rating in a research note on Tuesday, September 29th. UBS Group restated a “neutral” rating and issued a $27.00 price objective (down from $32.00) on shares of Comcast in a report on Tuesday, September 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $31.00 price objective on shares of Comcast in a research report on Monday. Eleven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and an average price target of $30.81.

Comcast Price Performance

CMCSA opened at $22.36 on Wednesday. The stock’s 50-day moving average price is $24.01 and its 200 day moving average price is $24.72. Comcast Corporation has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market cap of $79.35 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 1.57 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%. Comcast’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. As a group, sell-side analysts expect that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.9%. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.