New York State Teachers Retirement System Has $91.66 Million Stake in Comcast Corporation $CMCSA

New York State Teachers Retirement System reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,192,681 shares of the cable giant’s stock after selling 108,969 shares during the period. New York State Teachers Retirement System’s holdings in Comcast were worth $91,662,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Imprint Wealth LLC bought a new position in Comcast during the 3rd quarter valued at $26,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the 3rd quarter worth $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Comcast in the fourth quarter valued at about $27,000. Olistico Wealth LLC purchased a new stake in shares of Comcast in the fourth quarter valued at about $29,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent analyst reports. Evercore upped their price objective on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Freedom Capital raised shares of Comcast to a “hold” rating in a report on Friday, June 12th. Rosenblatt Securities upgraded shares of Comcast from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a research report on Tuesday. Finally, Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $34.40.

Key Stories Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has a strong earnings surprise track record, and recent Zacks/Yahoo analysis says its current setup could lead to another beat when it reports next quarter, which can lift investor confidence ahead of results.
• Positive Sentiment: Investors are seeing strategic optionality from Comcast’s planned separation of its media and technology businesses, including NBCUniversal and Sky, which could unlock value and sharpen the focus on the core broadband business. Comcast’s NBCUniversal Split Puts Broadband Back in Focus
• Positive Sentiment: Some commentary suggests Comcast’s cable-box viewing data could help its ad business in targeted streaming and connected TV, offering a potential way to offset decline in traditional pay TV.
• Neutral Sentiment: Goldman Sachs lowered its price target on Comcast to $26 from $29 and kept a neutral rating, signaling more cautious expectations even though the new target still implies upside from current levels.
• Neutral Sentiment: Coverage ahead of earnings highlights that investors are watching for execution on the spin-off, broadband trends, and margin pressure, keeping the stock tied to both near-term results and the breakup story.
• Negative Sentiment: Several reports note that Comcast shares have been under pressure recently because of tougher broadband competition, margin concerns, and lingering weakness in the stock’s longer-term performance.
• Negative Sentiment: There are also risks around Comcast’s data-driven advertising strategy, including viewer experience, churn, and privacy regulation, which could limit how much benefit the company gets from streaming ads.

Comcast Price Performance

CMCSA stock opened at $23.79 on Friday. The firm has a 50 day moving average of $24.86 and a 200-day moving average of $27.95. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.40. The firm has a market capitalization of $84.98 billion, a P/E ratio of 4.68, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. Comcast’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s dividend payout ratio is presently 25.98%.

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.