Scotiabank Upgrades Comcast Outlook Amid Decreased Institutional Ownership

Fintel reports that on November 1, 2024, Scotiabank raised its outlook for Comcast (WBAG:CMCS) from Sector Perform to Sector Outperform.

Current Fund Holdings in Comcast

There are 3,710 funds or institutions with positions in Comcast, marking a decrease of 90 owners, or 2.37%, over the last quarter. The average portfolio weight dedicated to CMCS stands at 0.57%, reflecting a 2.95% increase. However, total shares owned by institutions have dropped by 0.93% in the past three months, totaling 3,892,306K shares.

Institutional Investors’ Adjustments

Capital World Investors now holds 128,148K shares, equaling 3.32% ownership. In its prior filing, it reported 115,703K shares, an increase of 9.71%, although its overall portfolio allocation in CMCS decreased by 1.43% last quarter.

The Vanguard Total Stock Market Index Fund (VTSMX) now possesses 123,606K shares, representing 3.20% ownership. Previously, it reported 124,518K shares, signifying a 0.74% decrease, along with a 12.80% reduction in portfolio allocation for CMCS over the last quarter.

Vanguard 500 Index Fund (VFINX) currently holds 100,460K shares, which is 2.60% of the company. In its last update, it owned 99,846K shares, a modest increase of 0.61%. However, this fund also reduced its CMCS allocation by 13.96% during the last quarter.

JPMorgan Chase holds 86,410K shares, constituting 2.24% ownership. This is a decrease from 97,397K shares previously reported, marking a 12.71% reduction, alongside a more significant 22.17% cut in portfolio allocation for CMCS.

Geode Capital Management owns 85,791K shares, or 2.22% of Comcast. In its previous filing, the company had 83,684K shares, indicating an increase of 2.46%, yet it too decreased its portfolio allocation in CMCS by 12.13% over the last quarter.

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