State of New Jersey Common Pension Fund D Reduces Position in Comcast Corporation $CMCSA

Key Points

• State of New Jersey Common Pension Fund D trimmed its Comcast stake by 4.4% in Q4, selling 56,823 shares and leaving it with 1,245,488 shares valued at about $37.23 million.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 at an average price of $32.66 (about $1.89 million), reducing his ownership by 8.52% to 622,336 shares.
• Comcast reported an earnings beat, with $0.79 EPS vs. $0.73 expected and revenue of $31.46 billion (above the $30.42 billion estimate), while revenue rose 5.3% year-over-year.

State of New Jersey Common Pension Fund D trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,245,488 shares of the cable giant's stock after selling 56,823 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Comcast were worth $37,228,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Imprint Wealth LLC purchased a new position in Comcast during the third quarter worth about $26,000. United Financial Planning Group LLC purchased a new position in Comcast in the third quarter worth approximately $28,000. Olistico Wealth LLC purchased a new position in Comcast in the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. increased its stake in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock worth $30,000 after acquiring an additional 691 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in Comcast in the fourth quarter valued at $33,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.26% of the company's stock.

Comcast Price Performance

CMCSA opened at $26.83 on Thursday. The stock's 50-day moving average price is $29.48 and its 200 day moving average price is $29.02. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. The firm has a market cap of $96.54 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 2.22 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts expect that Comcast Corporation will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CMCSA shares. Evercore increased their price target on Comcast from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Comcast from a "buy" rating to a "hold" rating and set a $34.00 price objective on the stock. in a report on Friday, April 24th. Citigroup increased their target price on shares of Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a research note on Friday, April 24th. Royal Bank Of Canada lifted their price target on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Comcast in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $34.94.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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