Comcast Corporation $CMCSA Position Trimmed by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Comcast Corporation by 10.2%, selling 145,122 shares during the first quarter, bringing its total to 1,282,316 shares valued at approximately $47.3 million.
• Comcast reported a Q2 EPS of $1.25, exceeding analysts' expectations, and showed a revenue of $30.31 billion, which is a 2.1% increase year-over-year.
• The company announced a quarterly dividend of $0.33 per share, scheduled to be paid on October 22nd, representing a 4.0% dividend yield.

State of New Jersey Common Pension Fund D reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,282,316 shares of the cable giant's stock after selling 145,122 shares during the period. State of New Jersey Common Pension Fund D's holdings in Comcast were worth $47,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Comcast by 14.7% during the 1st quarter. American Century Companies Inc. now owns 4,739,416 shares of the cable giant's stock valued at $174,884,000 after acquiring an additional 608,202 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in Comcast by 17.5% in the first quarter. Brandywine Global Investment Management LLC now owns 7,428,720 shares of the cable giant's stock worth $274,120,000 after buying an additional 1,108,747 shares during the period. Aberdeen Group plc increased its position in Comcast by 43.2% in the first quarter. Aberdeen Group plc now owns 2,742,716 shares of the cable giant's stock worth $99,903,000 after buying an additional 827,607 shares during the period. Horizon Investments LLC increased its position in Comcast by 2.0% in the first quarter. Horizon Investments LLC now owns 79,093 shares of the cable giant's stock worth $2,892,000 after buying an additional 1,532 shares during the period. Finally, Providence Capital Advisors LLC increased its position in Comcast by 6.8% in the first quarter. Providence Capital Advisors LLC now owns 161,972 shares of the cable giant's stock worth $5,977,000 after buying an additional 10,300 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

CMCSA stock traded up $0.46 during trading hours on Tuesday, hitting $33.89. 16,131,433 shares of the stock traded hands, compared to its average volume of 24,347,488. The stock has a 50-day simple moving average of $34.33 and a 200 day simple moving average of $34.78. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a market cap of $125.13 billion, a P/E ratio of 5.60, a P/E/G ratio of 2.01 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

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 for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the company posted $1.21 EPS. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several analyst reports. Scotiabank increased their target price on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. TD Cowen dropped their target price on Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research report on Friday, July 18th. The Goldman Sachs Group dropped their target price on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Rosenblatt Securities raised their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $40.73.

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.