Comcast Corporation $CMCSA Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,848,369 shares of the cable giant’s stock after selling 213,928 shares during the period. California State Teachers Retirement System’s holdings in Comcast were worth $167,907,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of Comcast during the third quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Comcast in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC grew its stake in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD purchased a new stake in Comcast during the 1st quarter worth approximately $27,000. Finally, Richardson Financial Services Inc. raised its position in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of research analyst reports. New Street Research dropped their price target on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Barclays set a $26.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. Finally, BNP Paribas Exane lowered their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.96.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $24.19 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $23.76 and its two-hundred day moving average price is $27.20. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The stock has a market capitalization of $86.41 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.87 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, sell-side analysts forecast that Comcast Corporation will post 3.5 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

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.