Louisiana State Employees Retirement System Purchases Shares of 418,600 Comcast Corporation $CMCSA

Louisiana State Employees Retirement System purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the first quarter, HoldingsChannel reports. The institutional investor purchased 418,600 shares of the cable giant’s stock, valued at approximately $12,018,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Brighton Jones LLC increased its holdings in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares during the period. Voya Financial Advisors Inc. lifted its holdings in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares during the period. United Bank boosted its position in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after buying an additional 4,290 shares during the last quarter. HUB Investment Partners LLC boosted its position in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after buying an additional 15,865 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 0.2%

Shares of CMCSA stock opened at $22.69 on Friday. Comcast Corporation has a twelve month low of $22.13 and a twelve month high of $36.66. The stock has a market cap of $81.05 billion, a P/E ratio of 4.47, a P/E/G ratio of 1.84 and a beta of 0.67. The stock has a 50 day moving average of $25.39 and a 200 day moving average of $28.07. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts expect that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. Comcast’s dividend payout ratio is 25.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMCSA shares. Citigroup raised their price target on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Scotiabank increased their price objective on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Moffett Nathanson decreased their target price on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $29.00 target price on shares of Comcast in a research report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.46.

Comcast Company Profile

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.