Kentucky Retirement Systems cut its holdings in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,120 shares of the cable giant’s stock after selling 9,345 shares during the quarter. Kentucky Retirement Systems’ holdings in Comcast were worth $9,451,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the last quarter. Waterfront Wealth Inc. raised its position in Comcast by 28.5% in the 4th quarter. Waterfront Wealth Inc. now owns 6,404 shares of the cable giant’s stock valued at $240,000 after buying an additional 1,421 shares during the last quarter. Compass Capital Corp MA ADV acquired a new stake in Comcast in the 4th quarter valued at approximately $232,000. Hudson Edge Investment Partners Inc. raised its position in Comcast by 9.3% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 165,988 shares of the cable giant’s stock valued at $6,230,000 after buying an additional 14,157 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in Comcast by 27.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 15,551 shares of the cable giant’s stock valued at $584,000 after buying an additional 3,362 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research report on Monday, April 28th. Oppenheimer dropped their target price on Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Barclays lowered their price target on Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Scotiabank reaffirmed a “sector perform” rating and set a $44.50 price target (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Finally, UBS Group set a $44.50 price target on Comcast in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Comcast presently has an average rating of “Moderate Buy” and a consensus price target of $42.10.
Comcast Stock Performance
Shares of NASDAQ CMCSA opened at $34.53 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The stock has a 50 day moving average of $34.50 and a 200-day moving average of $35.82. The company has a market capitalization of $128.92 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.69 and a beta of 0.95.
Comcast (NASDAQ:CMCSA – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. As a group, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.
Comcast Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.82%. Comcast’s dividend payout ratio (DPR) is presently 32.43%.
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.
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