Comcast Corporation $CMCSA Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,093,389 shares of the cable giant’s stock after selling 16,700 shares during the quarter. State of Michigan Retirement System’s holdings in Comcast were worth $34,354,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Comcast by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares in the last quarter. State Street Corp lifted its stake in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares in the last quarter. Dodge & Cox boosted its position in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after buying an additional 17,054,579 shares during the period. Norges Bank acquired a new stake in Comcast in the second quarter valued at approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after purchasing an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.37 on Friday. The company has a fifty day moving average price of $28.79 and a two-hundred day moving average price of $30.21. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The stock has a market cap of $114.31 billion, a P/E ratio of 5.84, a P/E/G ratio of 2.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. Comcast’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. As a group, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is currently 24.58%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. Daiwa Securities Group lowered their price objective on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, November 18th. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Arete Research set a $23.00 target price on Comcast in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, UBS Group reduced their price objective on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.90.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.