Teacher Retirement System of Texas Buys 407,060 Shares of Comcast Corporation $CMCSA

Key Points

• Teacher Retirement System of Texas raised its stake in Comcast by 19.3%, buying 407,060 shares in Q4 to hold 2,512,894 shares worth $75.11 million (about 0.07% of the company).
• Several large institutions also boosted positions—Capital Research (+46.1% to 33.7M shares, ~$1.06B), State Street (+4.6% to 180.7M shares, ~$5.68B), SG Americas (+2,970.5%), Two Sigma (+1,356.2%)—leaving institutional ownership at 84.32%.
• Analysts show a consensus "Hold" rating with a $34.81 average target, while Comcast yields 4.5% from a $0.33 quarterly dividend and trades near $29 with a P/E of 5.47.

Teacher Retirement System of Texas raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,512,894 shares of the cable giant's stock after purchasing an additional 407,060 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Comcast worth $75,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Capital Research Global Investors lifted its position in Comcast by 46.1% in the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock valued at $1,059,053,000 after purchasing an additional 10,633,206 shares during the last quarter. State Street Corp raised its holdings in shares of Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Comcast by 2,970.5% during the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock valued at $221,028,000 after acquiring an additional 7,153,895 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Comcast by 1,356.2% during the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock valued at $205,993,000 after acquiring an additional 6,105,867 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock valued at $178,634,000 after acquiring an additional 4,240,876 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMCSA. Arete Research set a $23.00 target price on Comcast in a report on Tuesday, January 6th. Scotiabank reduced their price target on Comcast from $35.25 to $34.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group reduced their price target on Comcast from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 25th. Citigroup reaffirmed a "buy" rating and issued a $33.00 price target (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Finally, Zacks Research raised Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $34.81.

Comcast Trading Up 1.1%

NASDAQ CMCSA opened at $29.37 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The stock has a market cap of $105.67 billion, a P/E ratio of 5.47, a P/E/G ratio of 2.41 and a beta of 0.80. The stock's fifty day moving average price is $29.82 and its 200-day moving average price is $29.09.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. As a group, equities analysts forecast that Comcast Corporation will post 3.46 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. Comcast's dividend payout ratio (DPR) is 24.58%.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company's stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.32% of the stock is owned by company insiders.

About Comcast

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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