State Board of Administration of Florida Retirement System trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,281,289 shares of the cable giant’s stock after selling 133,660 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Comcast worth $222,420,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. WP Advisors LLC purchased a new stake in shares of Comcast during the second quarter valued at $105,000. Prentiss Smith & Co. Inc. boosted its stake in shares of Comcast by 229.5% during the second quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock valued at $108,000 after purchasing an additional 2,295 shares during the period. IMA Wealth Inc. purchased a new stake in shares of Comcast during the second quarter valued at $108,000. Acropolis Investment Management LLC purchased a new stake in shares of Comcast during the third quarter valued at $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Comcast during the second quarter valued at $129,000. 80.43% of the stock is owned by institutional investors.
CMCSA has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of Comcast in a research note on Tuesday, July 10th. They set a “neutral” rating and a $36.00 target price for the company. Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 19th. Pivotal Research restated a “buy” rating and issued a $48.00 price objective on shares of Comcast in a report on Monday, July 30th. Robert W. Baird decreased their price objective on Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Finally, Atlantic Securities upgraded Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Monday, August 6th. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Comcast has an average rating of “Buy” and a consensus target price of $44.71.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The business had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. Comcast had a net margin of 27.33% and a return on equity of 15.79%. On average, sell-side analysts anticipate that Comcast Co. will post 2.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.02%. Comcast’s dividend payout ratio is presently 36.89%.
In other Comcast news, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares in the company, valued at $2,648,369.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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