Public Employees Retirement Association of Colorado Sells 34,153 Shares of Comcast Co. (NASDAQ:CMCSA)

Public Employees Retirement Association of Colorado lessened its position in Comcast Co. (NASDAQ:CMCSA) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 569,062 shares of the cable giant’s stock after selling 34,153 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Comcast were worth $24,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its stake in Comcast by 4.8% in the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after purchasing an additional 2,781 shares during the period. Desjardins Global Asset Management Inc. raised its holdings in Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Comcast during the 4th quarter valued at $2,056,000. Axxcess Wealth Management LLC grew its holdings in Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after acquiring an additional 10,936 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Comcast by 3.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.86 during midday trading on Monday, reaching $40.55. 9,092,780 shares of the company were exchanged, compared to its average volume of 20,451,410. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market cap of $159.10 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. The business’s fifty day moving average is $38.53 and its two-hundred day moving average is $40.63. Comcast Co. has a one year low of $36.43 and a one year high of $47.46.

Comcast (NASDAQ:CMCSA) last posted 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 during the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the prior year, the company earned $1.13 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts predict that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.06%. Comcast’s payout ratio is 32.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CMCSA shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Comcast in a research report on Monday, May 13th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Wells Fargo & Company dropped their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Evercore ISI dropped their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and an average price target of $46.01.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

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.