Public Employees Retirement Association of Colorado Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Public Employees Retirement Association of Colorado trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 547,062 shares of the cable giant’s stock after selling 22,000 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Comcast were worth $21,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Gilbert & Cook Inc. boosted its stake in Comcast by 10.3% during the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock worth $685,000 after buying an additional 1,459 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Comcast by 71.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 50,539 shares of the cable giant’s stock worth $2,451,000 after acquiring an additional 21,112 shares during the period. Tidemark LLC acquired a new position in shares of Comcast during the 4th quarter valued at about $51,000. Commerce Bank grew its holdings in shares of Comcast by 61.0% in the fourth quarter. Commerce Bank now owns 446,528 shares of the cable giant’s stock valued at $19,580,000 after purchasing an additional 169,260 shares during the period. Finally, FineMark National Bank & Trust increased its position in Comcast by 19.5% during the fourth quarter. FineMark National Bank & Trust now owns 86,975 shares of the cable giant’s stock worth $3,814,000 after purchasing an additional 14,170 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CMCSA. Macquarie reiterated a “neutral” rating and issued a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI reduced their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.78.

Comcast Stock Performance

Shares of CMCSA stock opened at $40.11 on Friday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The firm has a 50 day moving average of $39.57 and a two-hundred day moving average of $39.66. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $157.38 billion, a PE ratio of 10.61, a P/E/G ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the firm posted $1.13 EPS. Comcast’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.09%. Comcast’s dividend payout ratio (DPR) is 32.80%.

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.