Comcast Corporation (CMCSA) Stake Lowered by Teacher Retirement System of Texas
Teacher Retirement System of Texas trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,142,129 shares of the cable giant’s stock after selling 213,262 shares during the period. Comcast comprises 1.0% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 17th biggest position. Teacher Retirement System of Texas’ holdings in Comcast were worth $159,389,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Connecticut Wealth Management LLC increased its holdings in Comcast by 0.4% in the 2nd quarter. Connecticut Wealth Management LLC now owns 6,602 shares of the cable giant’s stock valued at $256,000 after acquiring an additional 24 shares during the last quarter. Financial Consulate Inc. grew its stake in shares of Comcast by 0.5% in the 2nd quarter. Financial Consulate Inc. now owns 6,400 shares of the cable giant’s stock worth $249,000 after buying an additional 30 shares in the last quarter. Clarius Group LLC grew its stake in shares of Comcast by 0.4% in the 2nd quarter. Clarius Group LLC now owns 8,041 shares of the cable giant’s stock worth $313,000 after buying an additional 32 shares in the last quarter. GM Advisory Group Inc. grew its stake in shares of Comcast by 0.9% in the 2nd quarter. GM Advisory Group Inc. now owns 5,554 shares of the cable giant’s stock worth $217,000 after buying an additional 48 shares in the last quarter. Finally, Peoples Bank OH grew its stake in shares of Comcast by 0.9% in the 2nd quarter. Peoples Bank OH now owns 6,340 shares of the cable giant’s stock worth $247,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
A number of equities analysts have commented on the stock. Macquarie reissued a “buy” rating and issued a $40.00 price objective on shares of Comcast in a research note on Thursday, December 7th. Barclays dropped their price objective on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. Robert W. Baird reissued an “outperform” rating on shares of Comcast in a research note on Wednesday, September 20th. OTR Global cut shares of Comcast to a “positive” rating in a research note on Monday, October 30th. Finally, Buckingham Research assumed coverage on shares of Comcast in a research note on Monday, November 20th. They issued a “buy” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Comcast has an average rating of “Buy” and an average target price of $46.15.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. analysts predict that Comcast Corporation will post 2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be given a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.53%. Comcast’s dividend payout ratio (DPR) is 29.72%.
In other Comcast news, EVP Arthur R. Block sold 5,630 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $39.89, for a total value of $224,580.70. Following the completion of the sale, the executive vice president now directly owns 71,664 shares of the company’s stock, valued at approximately $2,858,676.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the sale, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 593,402 shares of company stock valued at $22,961,401. 1.28% of the stock is owned by corporate insiders.
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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