State of Michigan Retirement System Acquires 16,600 Shares of Comcast Corporation $CMCSA

State of Michigan Retirement System grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,110,089 shares of the cable giant’s stock after purchasing an additional 16,600 shares during the quarter. State of Michigan Retirement System’s holdings in Comcast were worth $39,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its position in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Cranbrook Wealth Management LLC grew its stake in Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 350 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Comcast during the first quarter valued at approximately $29,000. Abound Financial LLC purchased a new position in Comcast during the first quarter valued at approximately $29,000. Finally, Princeton Global Asset Management LLC grew its stake in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after acquiring an additional 686 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday. Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Barclays reduced their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Benchmark reduced their price objective on shares of Comcast from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday. Finally, Pivotal Research reduced their price objective on shares of Comcast from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.74.

Comcast Trading Up 1.9%

Shares of Comcast stock opened at $27.83 on Friday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $45.31. The firm has a market cap of $102.75 billion, a PE ratio of 4.63, a PEG ratio of 1.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.91. The company has a 50 day simple moving average of $31.40 and a two-hundred day simple moving average of $33.32.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business had revenue of $30.34 billion during the quarter. Analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s payout ratio is presently 21.82%.

Comcast Company 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.