Retirement Systems of Alabama Has $74.42 Million Stock Holdings in Comcast Corporation $CMCSA

Retirement Systems of Alabama boosted its position in Comcast Corporation (NASDAQ:CMCSA) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,489,780 shares of the cable giant’s stock after buying an additional 255,398 shares during the period. Retirement Systems of Alabama’s holdings in Comcast were worth $74,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC grew its stake in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the period. Imprint Wealth LLC acquired a new position in shares of Comcast during the third quarter worth approximately $26,000. United Financial Planning Group LLC bought a new position in shares of Comcast in the 3rd quarter worth $28,000. Howard Hughes Medical Institute bought a new position in shares of Comcast in the 2nd quarter worth $29,000. Finally, Olistico Wealth LLC acquired a new stake in Comcast in the 4th quarter valued at $29,000. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 2.0%

Shares of CMCSA stock opened at $28.90 on Tuesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.13. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $30.33 and a two-hundred day simple moving average of $29.46. The company has a market capitalization of $103.98 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 2.22 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CMCSA shares. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Zacks Research lowered shares of Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Finally, BNP Paribas Exane decreased their price objective on Comcast from $27.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Comcast currently has an average rating of “Hold” and an average target price of $34.76.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.26% of the company’s stock.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.