Public Sector Pension Investment Board Sells 367,111 Shares of Comcast Corporation (NASDAQ:CMCSA)

Public Sector Pension Investment Board trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 38.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,772 shares of the cable giant’s stock after selling 367,111 shares during the quarter. Public Sector Pension Investment Board’s holdings in Comcast were worth $21,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in shares of Comcast during the 1st quarter valued at approximately $26,000. Abound Financial LLC bought a new position in shares of Comcast during the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC boosted its position in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the 4th quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of Comcast stock opened at $31.41 on Tuesday. The firm has a market cap of $115.97 billion, a P/E ratio of 5.19, a P/E/G ratio of 1.90 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The stock’s fifty day moving average price is $34.49 and its 200-day moving average price is $34.88.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMCSA shares. The Goldman Sachs Group lowered their price target on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Benchmark restated a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Arete Research upgraded Comcast to a “hold” rating in a research report on Tuesday, July 8th. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on Comcast from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $40.73.

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.