South Dakota Investment Council Purchases 50,783 Shares of Comcast Corporation (NASDAQ:CMCSA)

South Dakota Investment Council grew its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 779,969 shares of the cable giant's stock after buying an additional 50,783 shares during the period. Comcast makes up approximately 0.6% of South Dakota Investment Council's holdings, making the stock its 23rd biggest position. South Dakota Investment Council's holdings in Comcast were worth $28,781,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMCSA. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the 1st quarter valued at $26,000. Abound Financial LLC acquired a new stake in Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its position in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the fourth quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates increased its stake in Comcast by 203.4% in the first 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 last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of CMCSA traded down $0.16 on Friday, reaching $34.54. 14,787,636 shares of the stock traded hands, compared to its average volume of 21,925,448. The firm has a market cap of $128.96 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 1.68 and a beta of 0.95. 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 Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The stock's 50-day moving average price is $35.00 and its 200-day moving average price is $35.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $29.82 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.82%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CMCSA shares. Citigroup dropped their target price on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. TD Cowen dropped their target price on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Bernstein Bank reduced their price target on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Moffett Nathanson boosted their target price on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $41.10.

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.