Arizona State Retirement System Has $41.79 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Arizona State Retirement System lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,132,484 shares of the cable giant's stock after purchasing an additional 13,495 shares during the period. Arizona State Retirement System's holdings in Comcast were worth $41,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Inlight Wealth Management LLC bought a new position in shares of Comcast in the first quarter valued at approximately $26,000. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC lifted its stake in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in Comcast during the 4th quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of CMCSA stock traded down $0.43 on Friday, hitting $34.99. 16,862,759 shares of the stock traded hands, compared to its average volume of 21,974,051. The company's fifty day moving average is $34.96 and its 200 day moving average is $35.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a market capitalization of $130.64 billion, a PE ratio of 8.60, a PEG ratio of 1.71 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.77%. Comcast's payout ratio is presently 32.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target for the company. in a report on Thursday, April 10th. Moffett Nathanson raised their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. The Goldman Sachs Group dropped their target price on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Scotiabank boosted their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.98.

Comcast 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.