Retirement Systems of Alabama Has $29.91 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Retirement Systems of Alabama reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,472 shares of the cable giant’s stock after selling 15,964 shares during the quarter. Retirement Systems of Alabama’s holdings in Comcast were worth $29,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in Comcast by 26.4% during the first quarter. Blue Trust Inc. now owns 33,752 shares of the cable giant’s stock worth $1,245,000 after acquiring an additional 7,041 shares in the last quarter. Duncan Williams Asset Management LLC raised its stake in Comcast by 49.2% during the first quarter. Duncan Williams Asset Management LLC now owns 28,459 shares of the cable giant’s stock worth $1,050,000 after acquiring an additional 9,387 shares in the last quarter. Harrell Investment Partners LLC raised its stake in Comcast by 1.5% during the first quarter. Harrell Investment Partners LLC now owns 95,484 shares of the cable giant’s stock worth $3,523,000 after acquiring an additional 1,442 shares in the last quarter. Bigelow Investment Advisors LLC increased its stake in shares of Comcast by 6.9% in the first quarter. Bigelow Investment Advisors LLC now owns 7,050 shares of the cable giant’s stock valued at $260,000 after buying an additional 455 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its stake in shares of Comcast by 12.7% in the first quarter. Steel Grove Capital Advisors LLC now owns 46,304 shares of the cable giant’s stock valued at $1,709,000 after buying an additional 5,210 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $34.53 on Friday. The firm has a market capitalization of $128.92 billion, a P/E ratio of 8.48, a PEG ratio of 1.67 and a beta of 0.95. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The business has a 50-day moving average of $34.50 and a 200-day moving average of $35.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. On average, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. Comcast’s payout ratio is currently 32.43%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMCSA. KeyCorp lowered their target price on Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Scotiabank restated a “sector perform” rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a research note on Friday, April 25th. Citigroup lowered their target price on Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Finally, Barclays lowered their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and an average target price of $42.10.

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.