New York State Teachers Retirement System Sells 108,969 Shares of Comcast Corporation $CMCSA

Key Points

• New York State Teachers Retirement System trimmed its Comcast stake by 3.3% in Q1, selling 108,969 shares and ending with 3,192,681 shares valued at about $91.7 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus estimates of $0.73 and revenue of $31.46 billion, up 5.3% year over year.
• The company announced a quarterly dividend of $0.33 per share, implying a 5.5% annualized yield, while analysts remain mixed with a consensus rating of “Hold” and a $34.40 average price target.

New York State Teachers Retirement System lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,192,681 shares of the cable giant's stock after selling 108,969 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Comcast worth $91,662,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CMCSA. Imprint Wealth LLC bought a new stake in shares of Comcast in the 3rd quarter valued at $26,000. United Financial Planning Group LLC bought a new position in Comcast during the third quarter worth $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast in the fourth quarter valued at $27,000. Olistico Wealth LLC acquired a new position in Comcast in the fourth quarter valued at $29,000. Finally, Richardson Financial Services Inc. boosted its position in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock valued at $30,000 after acquiring an additional 691 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Trading Up 0.3%

Shares of Comcast stock opened at $23.79 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 52 week low of $22.13 and a 52 week high of $36.40. The stock has a 50 day moving average price of $24.86 and a two-hundred day moving average price of $27.95. The stock has a market capitalization of $84.98 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. Comcast's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Comcast Corporation will post 3.5 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 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast's dividend payout ratio is presently 25.98%.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has a strong earnings surprise track record, and recent Zacks/Yahoo analysis says its current setup could lead to another beat when it reports next quarter, which can lift investor confidence ahead of results.
• Positive Sentiment: Investors are seeing strategic optionality from Comcast’s planned separation of its media and technology businesses, including NBCUniversal and Sky, which could unlock value and sharpen the focus on the core broadband business. Comcast’s NBCUniversal Split Puts Broadband Back in Focus
• Positive Sentiment: Some commentary suggests Comcast’s cable-box viewing data could help its ad business in targeted streaming and connected TV, offering a potential way to offset decline in traditional pay TV.
• Neutral Sentiment: Goldman Sachs lowered its price target on Comcast to $26 from $29 and kept a neutral rating, signaling more cautious expectations even though the new target still implies upside from current levels.
• Neutral Sentiment: Coverage ahead of earnings highlights that investors are watching for execution on the spin-off, broadband trends, and margin pressure, keeping the stock tied to both near-term results and the breakup story.
• Negative Sentiment: Several reports note that Comcast shares have been under pressure recently because of tougher broadband competition, margin concerns, and lingering weakness in the stock’s longer-term performance.
• Negative Sentiment: There are also risks around Comcast’s data-driven advertising strategy, including viewer experience, churn, and privacy regulation, which could limit how much benefit the company gets from streaming ads.

Analysts Set New Price Targets

A number of analysts have weighed in on CMCSA shares. Rosenblatt Securities upgraded Comcast from a "neutral" rating to a "buy" rating and increased their price target for the stock from $24.00 to $31.00 in a report on Tuesday. Zacks Research upgraded Comcast from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Morgan Stanley raised their target price on Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Comcast from a "hold" rating to a "buy" rating and cut their price target for the stock from $34.00 to $32.00 in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast has an average rating of "Hold" and a consensus target price of $34.40.

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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