TIAA Trust National Association Sells 8,290 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• TIAA Trust National Association has reduced its stake in Comcast Corporation by 3.6%, selling 8,290 shares and holding 220,519 shares valued at approximately $8.14 million.
• Comcast's stock performance shows a market capitalization of $121.42 billion and a PE ratio of 5.38, with the stock currently trading at $32.52.
• The company recently announced a quarterly dividend of $0.33 per share, with a 4.1% dividend yield, to be paid on October 22nd.

TIAA Trust National Association reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 220,519 shares of the cable giant's stock after selling 8,290 shares during the period. TIAA Trust National Association's holdings in Comcast were worth $8,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. Dodge & Cox grew its holdings in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Comcast by 11.5% in the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock valued at $1,695,454,000 after acquiring an additional 4,669,069 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Comcast by 12.8% in the fourth quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock valued at $1,594,256,000 after acquiring an additional 4,819,443 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CMCSA shares. Rothschild & Co Redburn cut their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Scotiabank raised their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. KeyCorp cut their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group cut their price target on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Moffett Nathanson raised their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of "Hold" and a consensus price target of $40.77.

Comcast Stock Performance

Shares of CMCSA opened at $32.52 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.65. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The company has a 50-day simple moving average of $34.79 and a two-hundred day simple moving average of $35.10. The firm has a market capitalization of $121.42 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) 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 firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period last year, the business earned $1.21 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 32.43%.

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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