Public Employees Retirement System of Ohio Sells 33,155 Shares of Comcast Corporation $CMCSA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Comcast Corporation by 1.9%, selling 33,155 shares, leaving it with approximately 1.73 million shares worth around $61.66 million.
• Comcast reported earnings of $1.25 EPS for the last quarter, surpassing analysts' expectations, and its revenue increased by 2.1% compared to the previous year.
• The company announced a quarterly dividend of $0.33 per share with an annualized yield of 4.2%, to be paid on October 22nd.

Public Employees Retirement System of Ohio lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,727,622 shares of the cable giant's stock after selling 33,155 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Comcast were worth $61,659,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the first quarter valued at about $26,000. Cranbrook Wealth Management LLC boosted its position in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after acquiring an additional 350 shares during the period. Abound Financial LLC bought a new stake in shares of Comcast in the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new stake in shares of Comcast in the first quarter valued at about $29,000. Finally, Retirement Wealth Solutions LLC boosted its position in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the period. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Barclays cut their price objective 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. Citigroup reaffirmed a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Finally, Scotiabank upped their price objective on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.22.

Comcast Stock Up 0.4%

CMCSA stock opened at $31.62 on Wednesday. The stock has a market capitalization of $116.75 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. 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 $31.03 and a 12 month high of $45.31. The firm has a 50-day moving average price of $33.31 and a 200-day moving average price of $34.39.

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 analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. As a group, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Comcast 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.

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