Louisiana State Employees Retirement System Lowers Stake in Comcast Corporation $CMCSA

Louisiana State Employees Retirement System reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,900 shares of the cable giant’s stock after selling 9,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Comcast were worth $16,735,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Inlight Wealth Management LLC bought a new position in shares of Comcast in the first quarter worth approximately $26,000. Cranbrook Wealth Management LLC lifted its stake in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC lifted its stake in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares in the last quarter. Abound Financial LLC bought a new position in shares of Comcast in the first quarter worth approximately $29,000. Finally, Ransom Advisory Ltd bought a new position in shares of Comcast in the first quarter worth approximately $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Down 1.6%

CMCSA opened at $30.60 on Wednesday. The firm has a 50 day moving average price of $32.64 and a 200-day moving average price of $34.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $112.98 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 1.83 and a beta of 0.94. Comcast Corporation has a twelve month low of $30.30 and a twelve month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Analyst Ratings Changes

CMCSA has been the topic of several analyst reports. Scotiabank reiterated a “sector perform” rating and issued a $45.50 target price (up previously from $45.00) on shares of Comcast in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp reduced their price target on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. UBS Group set a $43.00 price objective on shares of Comcast in a report on Friday. Finally, Sanford C. Bernstein decreased their price objective on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.94.

Comcast Profile

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.