Markel Group Inc. Sells 513,740 Shares of Comcast Corporation $CMCSA

Markel Group Inc. cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 64.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 288,334 shares of the cable giant’s stock after selling 513,740 shares during the period. Markel Group Inc.’s holdings in Comcast were worth $6,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allied Private Wealth LLC bought a new stake in shares of Comcast in the second quarter worth $26,000. Whipplewood Advisors LLC lifted its holdings in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Main Street Group LTD bought a new position in Comcast in the first quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new position in Comcast in the third quarter valued at about $27,000. Finally, Thompson Investment Management Inc. bought a new position in Comcast in the second quarter valued at about $29,000. 84.32% of the stock is owned by institutional investors.

Comcast Trading Down 0.8%

Shares of CMCSA stock opened at $23.67 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 1.68 and a beta of 0.72. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The firm has a fifty day moving average price of $23.27 and a 200-day moving average price of $26.04.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. Comcast’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. As a group, equities analysts predict that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be given a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Comcast’s dividend payout ratio is presently 41.77%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CMCSA shares. KeyCorp cut Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 target price on the stock. in a research report on Thursday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $31.00 price target on shares of Comcast in a research report on Monday, October 19th. Bank of America reiterated a “buy” rating and issued a $35.00 price objective (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $23.00 price objective on shares of Comcast in a research note on Tuesday, October 13th. Finally, Scotiabank dropped their price objective on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a report on Friday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.77.

About Comcast

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.