Robinson Value Management Ltd. has reduced its stake in Comcast Corporation (NASDAQ: CMCSA) by selling 370 shares, representing a decrease of 0.4% in its holdings during the second quarter of 2023. According to the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC), Robinson Value Management now owns 101,550 shares of the cable and media giant, which constitutes approximately 2.3% of its overall investment portfolio. The remaining shares are valued at about $3.624 million as of the end of the most recent quarter, making Comcast the firm’s 17th largest holding.
Other institutional investors have also made adjustments to their positions in Comcast. For instance, Arista Wealth Management LLC acquired a new stake worth around $846,000 during the second quarter. Meanwhile, Angeles Wealth Management LLC increased its holdings by 8.9%, owning a total of 8,723 shares now valued at $311,000 after purchasing an additional 714 shares. Applied Finance Capital Management LLC raised its stake by 2.4%, owning 51,057 shares valued at $1.822 million following an acquisition of 1,183 shares. Similarly, Riverbend Wealth Management LLC invested about $201,000 in a new position in Comcast, while Sage Private Wealth Group LLC expanded its holdings by 26.5%, owning 18,667 shares worth $666,000 after buying an additional 3,907 shares. Notably, institutional investors collectively own approximately 84.32% of Comcast’s stock.
Analysts have been actively reviewing Comcast shares. Weiss Ratings reaffirmed a “hold (C-)” rating, while Arete Research upgraded the stock to a “hold” rating in a recent report. Citigroup maintained a “buy” rating, and Rosenblatt Securities lowered its price target from $38.00 to $33.00, assigning a “neutral” rating. Deutsche Bank Aktiengesellschaft also revised its price objective from $46.00 to $44.00 while maintaining a “buy” rating. Overall, one analyst has issued a “Strong Buy” rating, twelve have a “Buy” rating, fourteen a “Hold” rating, and three have given a “Sell” rating, producing a consensus rating of “Hold” with an average price target of $39.76.
As of the most recent trading session, Comcast shares saw a modest increase of 1.0%, opening at $29.54. The company boasts a market capitalization of $109.07 billion, with a price-to-earnings ratio of 4.88 and a PEG ratio of 1.73. The 50-day moving average price is $32.23, while the 200-day moving average is $33.70. Comcast’s financial health is supported by a debt-to-equity ratio of 0.99, while both the quick and current ratios stand at 0.91. The stock has fluctuated between a 52-week low of $29.15 and a high of $45.31.
In addition to recent trading activity, Comcast announced a quarterly dividend of $0.33 per share, payable on October 22, 2023 to shareholders on record as of October 1, 2023. This dividend represents an annualized payout of $1.32 and a yield of 4.5%, with the company’s current payout ratio at 21.82%.
Comcast Corporation operates globally as a media and technology company, providing services through various segments, including Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks.
