State of Michigan Retirement System Acquires 16,600 Shares of Comcast Corporation $CMCSA

State of Michigan Retirement System lifted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,110,089 shares of the cable giant’s stock after acquiring an additional 16,600 shares during the quarter. State of Michigan Retirement System’s holdings in Comcast were worth $39,619,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Foster Group Inc. lifted its holdings in shares of Comcast by 4.0% in the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock worth $265,000 after acquiring an additional 282 shares during the last quarter. Argyle Capital Management LLC increased its stake in shares of Comcast by 0.5% in the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock worth $2,184,000 after buying an additional 300 shares during the period. Clearstead Trust LLC increased its stake in shares of Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after buying an additional 305 shares during the period. Webster Bank N. A. increased its stake in shares of Comcast by 2.9% in the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after buying an additional 305 shares during the period. Finally, United Asset Strategies Inc. increased its stake in shares of Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock worth $519,000 after buying an additional 308 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Benchmark decreased their target price on shares of Comcast from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. TD Cowen decreased their target price on shares of Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Williams Trading set a $40.00 target price on shares of Comcast in a research note on Friday. Royal Bank Of Canada decreased their target price on shares of Comcast from $38.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Bank of America decreased their target price on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Eleven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.74.

Comcast Stock Up 1.9%

Shares of Comcast stock opened at $27.83 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $31.40 and its two-hundred day simple moving average is $33.32. The company has a market cap of $102.75 billion, a P/E ratio of 4.63, a PEG ratio of 1.65 and a beta of 0.94. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s payout ratio is presently 21.82%.

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.