Maryland State Retirement & Pension System Acquires 28,635 Shares of Comcast Corporation $CMCSA

Maryland State Retirement & Pension System grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,579 shares of the cable giant’s stock after purchasing an additional 28,635 shares during the period. Maryland State Retirement & Pension System’s holdings in Comcast were worth $4,778,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CMCSA. Douglas Lane & Associates LLC boosted its holdings in Comcast by 16.6% in the third quarter. Douglas Lane & Associates LLC now owns 2,549,714 shares of the cable giant’s stock valued at $55,482,000 after purchasing an additional 363,552 shares during the period. Saudi Central Bank raised its holdings in shares of Comcast by 87.2% in the 2nd quarter. Saudi Central Bank now owns 251,190 shares of the cable giant’s stock valued at $6,167,000 after purchasing an additional 117,038 shares in the last quarter. Nykredit A S purchased a new stake in shares of Comcast during the 2nd quarter worth $137,515,000. Inceptionr LLC acquired a new position in shares of Comcast during the first quarter worth $660,000. Finally, Bank of America Corp DE grew its stake in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Down 0.9%

Shares of Comcast stock opened at $24.80 on Friday. The company has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $25.90. Comcast Corporation has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock has a market cap of $88.06 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.77 and a beta of 0.72.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The firm had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same period last year, the business earned $1.12 EPS. Comcast’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.3%. Comcast’s dividend payout ratio is currently 41.77%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMCSA shares. Morgan Stanley dropped their target price on Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Citigroup decreased their price target on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a report on Thursday, September 24th. Freedom Broker lowered their price objective on Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Weiss Ratings upgraded Comcast from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Moffett Nathanson cut their target price on Comcast from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.77.

Top Comcast Stories

These are some of the CMCSA stories that stood out recently:

• Positive Sentiment: Comcast connected more than 1,400 previously unserved or underserved locations in West Virginia to multi-gigabit, symmetrical fiber through a public-private partnership supported by federal funding. The rollout expands its broadband footprint, though the near-term financial contribution is unclear. Comcast (CMCSA) Expands Rural Fiber Reach
• Neutral Sentiment: Taylor Sheridan discussed his move to NBCUniversal and the creative freedom he has earned. The interview highlights talent and content prospects but provided no specific financial guidance. Taylor Sheridan details how he earned creative freedom at NBCUniversal
• Neutral Sentiment: Comcast shares rose Wednesday but underperformed the broader market, indicating a weaker relative performance despite the gain. Comcast stock rises Wednesday, still underperforms market

Comcast Company Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States. Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.