New York State Common Retirement Fund Sells 181,546 Shares of Comcast Corporation (NASDAQ:CMCSA)

New York State Common Retirement Fund reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,723,475 shares of the cable giant's stock after selling 181,546 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Comcast worth $211,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CMCSA. Norges Bank purchased a new stake in shares of Comcast during the 4th quarter valued at $3,835,226,000. Capital World Investors increased its position in shares of Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. KBC Group NV increased its position in shares of Comcast by 724.7% during the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. Finally, Dodge & Cox increased its position in shares of Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after purchasing an additional 5,039,823 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent research reports. TD Cowen decreased their price objective on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a report on Thursday, April 10th. Wells Fargo & Company lowered Comcast from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $37.00 to $31.00 in a report on Monday, April 14th. New Street Research decreased their price objective on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, UBS Group set a $44.50 price objective on Comcast in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast has an average rating of "Hold" and an average target price of $40.98.

Comcast Stock Down 1.2%

CMCSA stock traded down $0.43 during midday trading on Friday, hitting $34.99. The stock had a trading volume of 16,862,759 shares, compared to its average volume of 21,995,037. The firm has a market cap of $130.64 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. The business has a 50-day moving average of $34.96 and a two-hundred day moving average of $35.41. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. 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 (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. During the same period in the previous year, the company posted $1.04 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

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

Comcast Company 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.