Legal & General Group Plc Sells 6,358,645 Shares of Comcast Co. (NASDAQ:CMCSA)

Legal & General Group Plc trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,450,324 shares of the cable giant's stock after selling 6,358,645 shares during the quarter. Legal & General Group Plc owned 0.65% of Comcast worth $917,621,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Promus Capital LLC bought a new stake in Comcast during the 4th quarter worth approximately $25,000. Winch Advisory Services LLC grew its holdings in Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant's stock worth $26,000 after buying an additional 502 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Comcast in the 4th quarter valued at $27,000. Wingate Wealth Advisors Inc. bought a new position in Comcast during the 4th quarter valued at $28,000. Finally, Dunhill Financial LLC boosted its holdings in Comcast by 54.8% during the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant's stock worth $34,000 after acquiring an additional 288 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on Comcast from $45.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Macquarie cut their price objective on Comcast from $42.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on Comcast from $45.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group reduced their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Loop Capital lowered their price objective on shares of Comcast from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.90.

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Comcast Stock Performance

NASDAQ:CMCSA traded up $0.04 during mid-day trading on Friday, reaching $33.72. The company's stock had a trading volume of 26,797,395 shares, compared to its average volume of 21,735,894. The firm's fifty day moving average price is $35.56 and its two-hundred day moving average price is $38.56. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The stock has a market cap of $127.50 billion, a P/E ratio of 8.13, a PEG ratio of 1.78 and a beta of 0.94. Comcast Co. has a 12-month low of $32.20 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. On average, equities analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, April 2nd. This is a positive change from Comcast's previous quarterly dividend of $0.31. Comcast's payout ratio is currently 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.