Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Comcast Corporation $CMCSA

Key Points

• Commonwealth of Pennsylvania Public School Employees’ Retirement System reduced its Comcast position by 5.9%, selling 48,970 shares and retaining 786,922 shares valued at approximately $19.3 million. Institutional investors and hedge funds collectively own 84.32% of the company.
• Analyst sentiment is mixed, with 11 Buy, 13 Hold, and 4 Sell ratings. Comcast has an average rating of Hold and an average price target of $32.96.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, although revenue declined 1.2% year over year. The company also declared a quarterly dividend of $0.33 per share, representing a 5.0% annualized yield.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 786,922 shares of the cable giant's stock after selling 48,970 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Comcast were worth $19,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. North Dakota State Investment Board acquired a new stake in Comcast in the 4th quarter valued at approximately $3,754,000. Inceptionr LLC acquired a new stake in shares of Comcast in the first quarter valued at $660,000. Bank of America Corp DE grew its stake in shares of Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock valued at $1,173,232,000 after buying an additional 3,783,234 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Comcast by 72.1% in the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant's stock valued at $6,961,000 after buying an additional 97,601 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company set a $23.00 target price on Comcast and gave the company an "underweight" rating in a report on Friday, July 24th. Citigroup reduced their price target on shares of Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a "hold" rating to a "buy" rating and lowered their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Finally, New Street Research reduced their target price on shares of Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $32.96.

Comcast Stock Performance

Shares of CMCSA stock opened at $26.19 on Friday. The company has a market cap of $92.94 billion, a P/E ratio of 8.48, a PEG ratio of 1.49 and a beta of 0.67. The firm has a fifty day moving average price of $23.85 and a 200 day moving average price of $26.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. Sell-side analysts predict that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.0%. Comcast's payout ratio is presently 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.

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