Retirement Systems of Alabama Sells 15,964 Shares of Comcast Corporation (NASDAQ:CMCSA)

Retirement Systems of Alabama reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 810,472 shares of the cable giant's stock after selling 15,964 shares during the period. Retirement Systems of Alabama's holdings in Comcast were worth $29,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Promus Capital LLC bought a new stake in Comcast in the fourth quarter valued at approximately $25,000. Retirement Wealth Solutions LLC boosted its holdings in 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 last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Comcast in the 4th quarter valued at $33,000. Global Wealth Strategies & Associates lifted its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Comcast during the 4th quarter valued at $36,000. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. Scotiabank reiterated a "sector perform" rating and set a $44.50 target price (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Wells Fargo & Company downgraded shares of Comcast from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Oppenheimer dropped their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen raised Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of "Moderate Buy" and a consensus price target of $42.10.

Comcast Stock Up 0.8%

NASDAQ CMCSA traded up $0.27 on Friday, reaching $34.53. The company had a trading volume of 42,690,031 shares, compared to its average volume of 21,971,160. The stock has a market capitalization of $128.92 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.69 and a beta of 0.95. The company's fifty day moving average is $34.50 and its 200 day moving average is $35.82. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio is presently 32.43%.

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.