M&G Plc Sells 462,075 Shares of Comcast Co. (NASDAQ:CMCSA)

M&G Plc lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 22.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,589,618 shares of the cable giant’s stock after selling 462,075 shares during the period. M&G Plc’s holdings in Comcast were worth $61,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Luken Investment Analytics LLC grew its stake in Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after buying an additional 418 shares in the last quarter. Steph & Co. boosted its stake in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Comcast during the 4th quarter valued at $28,000. Pineridge Advisors LLC bought a new stake in Comcast during the 4th quarter valued at $32,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after buying an additional 593 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. Evercore ISI decreased their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays decreased their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.78.

Comcast Stock Performance

NASDAQ CMCSA traded up $0.59 on Tuesday, reaching $39.12. 13,667,958 shares of the stock were exchanged, compared to its average volume of 20,408,361. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The firm has a market capitalization of $153.49 billion, a PE ratio of 10.19, a PEG ratio of 1.07 and a beta of 1.00. The company’s 50-day simple moving average is $38.70 and its two-hundred day simple moving average is $40.34. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. Analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Comcast 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.