Louisiana State Employees Retirement System Sells 9,400 Shares of Comcast Corporation $CMCSA

Louisiana State Employees Retirement System lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 468,900 shares of the cable giant's stock after selling 9,400 shares during the period. Louisiana State Employees Retirement System's holdings in Comcast were worth $16,735,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new position in shares of Comcast during the 1st quarter valued at $26,000. Cranbrook Wealth Management LLC grew its holdings in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after purchasing an additional 671 shares during the last quarter. Abound Financial LLC bought a new position in shares of Comcast during the 1st quarter valued at $29,000. Finally, Ransom Advisory Ltd purchased a new stake in Comcast during the 1st quarter valued at $29,000. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CMCSA. Rosenblatt Securities increased their price target on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Citigroup reissued a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Barclays dropped their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Morgan Stanley set a $35.00 price target on shares of Comcast and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Bank of America dropped their price target on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $39.94.

Comcast Trading Down 1.6%

NASDAQ:CMCSA opened at $30.60 on Wednesday. The company has a 50-day moving average price of $32.64 and a 200-day moving average price of $34.07. Comcast Corporation has a 12 month low of $30.30 and a 12 month high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $112.98 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 1.83 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period last year, the company posted $1.21 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 21.82%.

About Comcast

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.

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