Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its stake in Comcast Corporation by 38.8%, selling 367,111 shares, leaving it with 579,772 shares worth approximately $21.4 million.
• Institutional investors hold 84.32% of Comcast's stock, indicating strong institutional interest in the company.
• Evercore ISI and UBS Group both lowered their price targets for Comcast shares, reflecting a trend in analyst ratings that includes a mix of sell, hold, and buy recommendations.

Public Sector Pension Investment Board cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 38.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,772 shares of the cable giant's stock after selling 367,111 shares during the quarter. Public Sector Pension Investment Board's holdings in Comcast were worth $21,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sculati Wealth Management LLC lifted its position in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after purchasing an additional 285 shares during the last quarter. Beck Mack & Oliver LLC grew its stake in Comcast by 2.0% in the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock valued at $583,000 after purchasing an additional 300 shares during the last quarter. Toth Financial Advisory Corp grew its stake in Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after purchasing an additional 300 shares during the last quarter. Clearstead Trust LLC grew its stake in Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after purchasing an additional 305 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in Comcast by 0.6% in the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock valued at $1,999,000 after purchasing an additional 310 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Up 2.6%

NASDAQ:CMCSA traded up $0.84 during trading hours on Wednesday, hitting $32.94. The company had a trading volume of 29,733,444 shares, compared to its average volume of 23,008,912. 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 company has a 50-day moving average of $34.41 and a 200 day moving average of $34.85. The company has a market cap of $121.62 billion, a P/E ratio of 5.44, a P/E/G ratio of 1.93 and a beta of 0.92. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's dividend payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CMCSA shares. TD Cowen lowered their target price on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.73.

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.