California State Teachers Retirement System Reduces Position in Comcast Corporation $CMCSA

California State Teachers Retirement System trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,848,369 shares of the cable giant’s stock after selling 213,928 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Comcast worth $167,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Brighton Jones LLC raised its stake in Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares in the last quarter. United Bank grew its holdings in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in shares of Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after buying an additional 15,865 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several recent analyst reports. Moffett Nathanson lowered their target price on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Sanford C. Bernstein reissued a “market perform” rating and set a $28.00 price target on shares of Comcast in a research note on Monday, July 13th. KeyCorp restated a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Evercore upped their target price on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and reduced their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus price target of $32.96.

Comcast Price Performance

Comcast stock opened at $24.19 on Wednesday. The firm has a fifty day moving average of $23.76 and a 200-day moving average of $27.20. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $86.41 billion, a P/E ratio of 7.83, a PEG ratio of 1.87 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Comcast Corporation will post 3.5 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Wednesday, October 7th. Comcast’s payout ratio is currently 42.72%.

Comcast 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.