Public Sector Pension Investment Board Acquires 62,514 Shares of Comcast Co. (NASDAQ:CMCSA)

Public Sector Pension Investment Board lifted its stake in Comcast Co. (NASDAQ:CMCSA) by 13.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,928 shares of the cable giant’s stock after acquiring an additional 62,514 shares during the period. Public Sector Pension Investment Board’s holdings in Comcast were worth $21,300,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CMCSA. Bollard Group LLC raised its holdings in Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares during the period. Tortoise Investment Management LLC raised its stake in shares of Comcast by 4.5% in the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after buying an additional 249 shares during the period. Greenwich Wealth Management LLC lifted its position in shares of Comcast by 2.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after buying an additional 261 shares in the last quarter. Verum Partners LLC raised its stake in Comcast by 4.9% during the 2nd quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock worth $222,000 after acquiring an additional 267 shares during the period. Finally, Mcdonald Partners LLC lifted its holdings in Comcast by 1.4% during the first quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock valued at $849,000 after purchasing an additional 270 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMCSA. Pivotal Research decreased their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. KeyCorp cut their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Comcast currently has an average rating of “Hold” and an average target price of $45.78.

Comcast Price Performance

Comcast stock opened at $40.11 on Monday. The firm has a market capitalization of $157.38 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The firm has a 50-day moving average price of $39.57 and a 200-day moving average price of $39.63. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $30.02 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 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.