Strs Ohio Invests $69.06 Million in Comcast Corporation $CMCSA

Key Points

• Strs Ohio has invested $69.06 million in Comcast Corporation by acquiring 1,871,620 shares, representing approximately 0.05% of the company's stock as of the latest reporting period.
• Comcast's stock received mixed feedback from analysts, with recent target prices ranging from $34.00 to $58.00, reflecting varied ratings from "Strong Buy" to "Sell."
• The company reported a quarterly earnings of $1.25 per share, surpassing estimates, and also announced a quarterly dividend of $0.33 per share, indicating a strong financial position.

Strs Ohio acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,871,620 shares of the cable giant's stock, valued at approximately $69,063,000. Strs Ohio owned approximately 0.05% of Comcast at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast during the first quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in Comcast during the first quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new stake in Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC boosted 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. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Comcast during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Rothschild & Co Redburn lowered their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Sanford C. Bernstein cut their price objective on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a report on Wednesday. Finally, Scotiabank boosted their price objective on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.56.

Comcast Price Performance

Shares of Comcast stock opened at $33.48 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm's 50-day simple moving average is $33.90 and its 200-day simple moving average is $34.64. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm has a market cap of $123.62 billion, a P/E ratio of 5.53, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93.

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

Comcast Dividend Announcement

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

About Comcast

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.

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