Nordea Investment Management AB Sells 2,098,316 Shares of Comcast Co. (NASDAQ:CMCSA)

Nordea Investment Management AB trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 20.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,064,049 shares of the cable giant’s stock after selling 2,098,316 shares during the period. Nordea Investment Management AB owned 0.21% of Comcast worth $301,716,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CMCSA. Wilmington Savings Fund Society FSB lifted its position in Comcast by 55,334.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock worth $345,565,000 after acquiring an additional 8,258,128 shares during the last quarter. FMR LLC lifted its position in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after purchasing an additional 6,062,658 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock valued at $339,223,000 after purchasing an additional 4,182,525 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Comcast by 530.5% in the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after purchasing an additional 2,885,370 shares during the period. Finally, Darsana Capital Partners LP boosted its stake in Comcast by 26.7% during the second quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock worth $372,020,000 after buying an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 0.7 %

NASDAQ CMCSA opened at $37.67 on Monday. The stock has a market capitalization of $144.15 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average of $41.25 and a 200-day moving average of $40.30.

Comcast (NASDAQ:CMCSA) last announced 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. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Co. will post 4.26 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $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. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Macquarie increased their target price on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Pivotal Research increased their price objective on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.39.

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.