Retirement Systems of Alabama reduced its stake in shares of Comcast Corp. (NASDAQ:CMCSA) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,966,995 shares of the cable giant’s stock after selling 1,463 shares during the period. Comcast Corp. accounts for 0.7% of Retirement Systems of Alabama’s portfolio, making the stock its 20th largest position. Retirement Systems of Alabama’s holdings in Comcast Corp. were worth $128,228,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in Comcast Corp. during the second quarter valued at $446,948,000. Wellington Management Group LLP boosted its position in shares of Comcast Corp. by 9.5% in the first quarter. Wellington Management Group LLP now owns 54,138,081 shares of the cable giant’s stock valued at $3,306,753,000 after buying an additional 4,682,432 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Comcast Corp. by 6,562.5% in the first quarter. Bessemer Group Inc. now owns 4,160,780 shares of the cable giant’s stock valued at $254,140,000 after buying an additional 4,098,329 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Comcast Corp. by 25.9% in the first quarter. 1832 Asset Management L.P. now owns 6,274,405 shares of the cable giant’s stock valued at $635,483,000 after buying an additional 1,291,270 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Comcast Corp. during the first quarter valued at approximately $60,035,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded down 0.64% on Thursday, hitting $66.25. 9,331,956 shares of the stock were exchanged. The firm has a market cap of $159.78 billion, a price-to-earnings ratio of 20.14 and a beta of 1.00. The firm’s 50 day moving average price is $66.27 and its 200 day moving average price is $63.92. Comcast Corp. has a one year low of $52.34 and a one year high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business earned $18.74 billion during the quarter, compared to analyst estimates of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Equities analysts anticipate that Comcast Corp. will post $3.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s payout ratio is 33.43%.
Several brokerages have commented on CMCSA. RBC Capital Markets reissued an “outperform” rating and issued a $72.00 price target (up previously from $70.00) on shares of Comcast Corp. in a research report on Thursday, July 28th. Nomura reissued a “buy” rating on shares of Comcast Corp. in a research report on Monday, June 27th. Pivotal Research raised their price target on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 7th. Royal Bank Of Canada raised their price target on shares of Comcast Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Finally, Argus raised their price target on shares of Comcast Corp. from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $72.00.
In other Comcast Corp. news, EVP Neil Smit sold 29,475 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $67.86, for a total transaction of $2,000,173.50. Following the transaction, the executive vice president now directly owns 81,410 shares in the company, valued at approximately $5,524,482.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur R. Block sold 1,023 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $65.75, for a total transaction of $67,262.25. Following the transaction, the executive vice president now owns 47,539 shares in the company, valued at $3,125,689.25. The disclosure for this sale can be found here. Corporate insiders own 1.27% of the company’s stock.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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