Vestcor Inc Decreases Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Vestcor Inc has reduced its holdings in Comcast Corporation by 22.1%, selling 44,617 shares and retaining a total of 156,913 shares valued at approximately $5.79 million.
• Several large investors have increased their stakes in Comcast, with Capital World Investors boosting its position by 8.6%, totaling over 141 million shares valued at $5.32 billion.
• Analysts have lowered their target prices for Comcast, with JPMorgan Chase reducing theirs from $39.00 to $37.00, while the company maintains an average rating of "Hold" with a consensus target price of $41.13.

Vestcor Inc reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 22.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,913 shares of the cable giant's stock after selling 44,617 shares during the period. Vestcor Inc's holdings in Comcast were worth $5,790,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CMCSA. Capital World Investors boosted its stake in shares of Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Dodge & Cox raised its stake in Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after buying an additional 5,039,823 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after buying an additional 5,402,377 shares during the period. Invesco Ltd. boosted its position in Comcast by 11.5% during the 4th 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% during the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock worth $1,594,256,000 after acquiring an additional 4,819,443 shares during the period. 84.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CMCSA. JPMorgan Chase & Co. lowered their target price on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Bernstein Bank lowered their price objective on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. New Street Research decreased their price target on shares of Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price target on shares of Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.13.

Comcast Stock Performance

CMCSA stock opened at $32.50 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The company has a market cap of $121.35 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.95. The stock's fifty day moving average price is $34.86 and its 200-day moving average price is $35.16.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 4.06%. Comcast's payout ratio is 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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