TIAA CREF Investment Management LLC decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,746,283 shares of the cable giant’s stock after selling 936,470 shares during the period. Comcast Corporation makes up approximately 1.0% of TIAA CREF Investment Management LLC’s investment portfolio, making the stock its 10th largest position. TIAA CREF Investment Management LLC owned about 0.78% of Comcast Corporation worth $1,430,165,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Comcast Corporation by 97.6% in the 1st quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares during the period. Clearbridge Investments LLC boosted its position in shares of Comcast Corporation by 97.6% during the 1st quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after purchasing an additional 48,147,456 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Comcast Corporation by 95.7% during the 1st quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after purchasing an additional 29,199,805 shares during the period. Egerton Capital UK LLP boosted its position in shares of Comcast Corporation by 87.3% during the 1st quarter. Egerton Capital UK LLP now owns 21,463,447 shares of the cable giant’s stock worth $806,811,000 after purchasing an additional 10,003,433 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Comcast Corporation by 105.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,286,335 shares of the cable giant’s stock worth $612,204,000 after purchasing an additional 8,371,973 shares during the period. Institutional investors own 81.60% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Guggenheim raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, August 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 price objective on shares of Comcast Corporation in a research report on Friday, November 17th. Moffett Nathanson raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, September 12th. They noted that the move was a valuation call. ValuEngine cut shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barclays PLC lowered their price objective on shares of Comcast Corporation from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.93.
Comcast Corporation (NASDAQ CMCSA) opened at $36.41 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. Comcast Corporation has a 1 year low of $34.01 and a 1 year high of $42.18. The company has a market cap of $170,172.00, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. The company had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. equities research analysts forecast that Comcast Corporation will post 2.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. Comcast Corporation’s payout ratio is 30.36%.
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In other news, Director Kenneth J. Bacon sold 2,232 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the sale, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at $2,626,816.08. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by company insiders.
Comcast Corporation Company Profile
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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