State of Alaska Department of Revenue Sells 23,570 Shares of Comcast Corporation $CMCSA

State of Alaska Department of Revenue trimmed its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 631,318 shares of the cable giant's stock after selling 23,570 shares during the quarter. State of Alaska Department of Revenue's holdings in Comcast were worth $22,530,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisor OS LLC boosted its position in shares of Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after purchasing an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after purchasing an additional 118,839 shares during the period. OMNI 360 Wealth Inc. bought a new position in shares of Comcast in the first quarter worth approximately $335,000. DAVENPORT & Co LLC boosted its position in shares of Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC boosted its position in shares of Comcast by 49.5% in the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock worth $2,632,000 after purchasing an additional 23,607 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Scotiabank upped their price target 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. Loop Capital lowered their target price on shares of Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, September 22nd. Sanford C. Bernstein lowered their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group lowered their target price on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays lowered their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and an average price target of $40.19.

Comcast Price Performance

Comcast stock opened at $31.72 on Friday. The company has a market cap of $117.12 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 1.90 and a beta of 0.93. The firm's fifty day moving average is $33.13 and its 200 day moving average is $34.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast's dividend payout ratio is currently 21.82%.

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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.