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

Corebridge Financial Inc. lowered its position in Comcast Co. (NASDAQ:CMCSA) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,299,279 shares of the cable giant’s stock after selling 57,460 shares during the period. 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 have also recently added to or reduced their stakes in the company. Promus Capital LLC bought a new stake in shares of Comcast during the fourth quarter worth about $25,000. Winch Advisory Services LLC lifted its holdings in shares of Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Comcast during the third quarter valued at approximately $30,000. Roxbury Financial LLC bought a new stake in Comcast during the fourth quarter worth $27,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Comcast during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMCSA. Barclays reduced their target price on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group reduced their target price on Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Macquarie reduced their price target on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Stock Performance

Comcast stock opened at $36.75 on Monday. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $138.95 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The firm’s fifty day moving average price is $35.83 and its 200-day moving average price is $39.08.

Comcast (NASDAQ:CMCSA) last released its quarterly 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 research analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a yield of 3.59%. This is a positive change from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is currently 31.81%.

Comcast Company 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.