Corebridge Financial Inc. Sells 57,460 Shares of Comcast Co. (NASDAQ:CMCSA)

Corebridge Financial Inc. decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,299,279 shares of the cable giant's stock after selling 57,460 shares during the quarter. Corebridge Financial Inc.'s holdings in Comcast were worth $48,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Raymond James Financial Inc. purchased a new position in shares of Comcast in the 4th quarter worth about $743,681,000. Amundi raised its holdings in Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant's stock valued at $895,499,000 after buying an additional 14,369,056 shares during the period. Wilmington Savings Fund Society FSB lifted its position in Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant's stock valued at $345,565,000 after buying an additional 8,258,128 shares in the last quarter. FMR LLC raised 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 valued at $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of Comcast by 530.5% during the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant's stock valued at $143,242,000 after acquiring an additional 2,885,370 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently issued reports on CMCSA. JPMorgan Chase & Co. dropped their price target on shares of Comcast from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Morgan Stanley cut their target price on shares of Comcast from $45.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Barclays decreased their price target on Comcast from $42.00 to $37.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Loop Capital cut their price objective on Comcast from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Macquarie decreased their target price on Comcast from $42.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Comcast presently has an average rating of "Moderate Buy" and a consensus price target of $43.64.

Comcast Stock Down 1.4 %

Shares of CMCSA stock traded down $0.51 during trading on Friday, hitting $36.86. 4,169,392 shares of the company were exchanged, compared to its average volume of 19,838,642. The business's 50-day simple moving average is $35.89 and its 200 day simple moving average is $39.01. Comcast Co. has a twelve month low of $32.50 and a twelve month high of $45.31. The firm has a market capitalization of $139.36 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.78 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, April 2nd. This is a positive change from Comcast's previous quarterly dividend of $0.31. Comcast's dividend payout ratio (DPR) is presently 31.81%.

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.