Maryland State Retirement & Pension System Has $6.48 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• The Maryland State Retirement & Pension System has reduced its stake in Comcast Corporation by 14% in Q1, holding 175,634 shares valued at $6.48 million.
• Comcast has declared a quarterly dividend of $0.33 per share to be paid on October 22nd, representing an annualized yield of 4.2%.
• As of the latest reports, Comcast's stock has a consensus rating of "Hold" with an average price target of $40.73 from analysts.

Maryland State Retirement & Pension System decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,634 shares of the cable giant's stock after selling 28,570 shares during the quarter. Maryland State Retirement & Pension System's holdings in Comcast were worth $6,481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Sculati Wealth Management LLC increased its holdings in shares of Comcast by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after acquiring an additional 285 shares in the last quarter. Beck Mack & Oliver LLC increased its holdings in shares of Comcast by 2.0% in the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after acquiring an additional 300 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after acquiring an additional 300 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after acquiring an additional 305 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Comcast by 0.6% in the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after acquiring an additional 310 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CMCSA shares. KeyCorp lowered their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Bernstein Bank decreased their price objective on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Scotiabank upped their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Comcast presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $31.67 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The stock has a 50 day moving average of $34.61 and a 200-day moving average of $34.99. The company has a market capitalization of $118.25 billion, a P/E ratio of 5.23, a P/E/G ratio of 1.93 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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 return on equity of 18.86% and a net margin of 18.44%. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the company posted $1.21 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast's payout ratio is 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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