Union Savings Bank Decreases Position in Comcast Co. (NASDAQ:CMCSA)

20 Jan 2025, 17:18 by Sarita Garza · The Markets Daily

Union Savings Bank reduced its stake in Comcast Co. (NASDAQ:CMCSA – Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,661 shares of the cable giant’s stock after selling 462 shares during the period. Union Savings Bank’s holdings in Comcast were worth $137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Comcast by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Comcast by 6.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock valued at $1,268,310,000 after purchasing an additional 1,717,762 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in Comcast by 5.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after purchasing an additional 822,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Comcast by 4.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after buying an additional 676,920 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insiders Place Their Bets

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $36.58 on Monday. The business has a 50 day simple moving average of $39.97 and a 200 day simple moving average of $40.18. Comcast Co. has a one year low of $36.15 and a one year high of $47.11. The company has a market capitalization of $139.97 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.39%. Comcast’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Morgan Stanley lowered shares of Comcast from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $48.00 to $45.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.33.

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