Comcast Corporation (NASDAQ:CMCSA) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,093,489 shares of the cable giant's stock after selling 12,800 shares during the quarter. State of Michigan Retirement System's holdings in Comcast were worth $40,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new position in shares of Comcast in the 1st quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in Comcast during the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC raised its position in Comcast by 126.9% in 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 period. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast during the 4th quarter worth $33,000. Finally, Global Wealth Strategies & Associates grew 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. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $37.00 price target on shares of Comcast in a research report on Friday, April 25th. Oppenheimer dropped their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Scotiabank boosted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, New Street Research dropped their price objective on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of "Hold" and an average target price of $40.98.

Comcast Stock Performance

CMCSA traded down $0.43 during midday trading on Friday, hitting $34.99. 16,862,759 shares of the company were exchanged, compared to its average volume of 21,974,051. The firm has a market capitalization of $130.64 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. The company's 50 day simple moving average is $34.95 and its 200 day simple moving average is $35.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.77%. The ex-dividend date is Wednesday, July 2nd. Comcast's payout ratio is presently 32.43%.

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.