Public Sector Pension Investment Board Purchases 2,473,040 Shares of Comcast Corporation $CMCSA

Public Sector Pension Investment Board boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 478.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,989,559 shares of the cable giant’s stock after acquiring an additional 2,473,040 shares during the quarter. Public Sector Pension Investment Board owned 0.08% of Comcast worth $93,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC increased its stake in shares of Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the last quarter. Avalon Trust Co grew its holdings in Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the period. Howard Hughes Medical Institute acquired a new position in Comcast during the second quarter worth approximately $29,000. Princeton Global Asset Management LLC increased its position in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after buying an additional 686 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Comcast in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Pivotal Research downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Sanford C. Bernstein cut their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a report on Thursday, January 15th. KeyCorp cut shares of Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada dropped their price objective on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.90.

Comcast Stock Down 2.0%

CMCSA stock opened at $31.82 on Friday. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $115.95 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 2.48 and a beta of 0.81. The business’s fifty day moving average price is $29.19 and its two-hundred day moving average price is $30.12.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the company posted $0.96 earnings per share. Comcast’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.