Louisiana State Employees Retirement System Purchases New Position in Comcast Corporation $CMCSA

Louisiana State Employees Retirement System acquired a new position in Comcast Corporation (NASDAQ:CMCSA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 418,600 shares of the cable giant’s stock, valued at approximately $12,018,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after buying an additional 2,160,829 shares during the period. North Dakota State Investment Board purchased a new stake in Comcast during the fourth quarter worth $3,754,000. Vest Financial LLC lifted its holdings in Comcast by 72.1% during the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock worth $6,961,000 after buying an additional 97,601 shares during the period. Victory Capital Management Inc. boosted its position in Comcast by 9.7% during the 3rd quarter. Victory Capital Management Inc. now owns 7,834,053 shares of the cable giant’s stock valued at $246,146,000 after acquiring an additional 693,156 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Comcast by 53.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after acquiring an additional 72,129 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMCSA. Scotiabank boosted their price target on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada raised their price objective on Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Morgan Stanley lifted their target price on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, BNP Paribas Exane decreased their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a research report on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.46.

Comcast Stock Performance

Shares of CMCSA opened at $22.69 on Friday. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.66. The stock has a fifty day moving average price of $25.39 and a 200-day moving average price of $28.07. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a market cap of $81.05 billion, a PE ratio of 4.47, a P/E/G ratio of 1.84 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter last year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

About Comcast

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.