Retirement Systems of Alabama Purchases 255,398 Shares of Comcast Corporation $CMCSA

Retirement Systems of Alabama increased its position in Comcast Corporation (NASDAQ:CMCSA) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,489,780 shares of the cable giant’s stock after buying an additional 255,398 shares during the quarter. Retirement Systems of Alabama owned 0.07% of Comcast worth $74,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its stake in shares of Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares during the last quarter. United Bank increased its holdings in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares during the period. XTX Topco Ltd acquired a new stake in Comcast in the second quarter valued at $1,016,000. Finally, Mackenzie Financial Corp raised its position in Comcast by 57.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,423,514 shares of the cable giant’s stock worth $50,805,000 after purchasing an additional 518,462 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on CMCSA. Citigroup reaffirmed a “buy” rating and set a $33.00 target price (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Sanford C. Bernstein lowered their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and increased their target price for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Finally, Benchmark lowered their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.76.

Comcast Stock Up 2.0%

Shares of NASDAQ:CMCSA opened at $28.90 on Tuesday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.13. 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 business’s 50-day moving average is $30.33 and its 200-day moving average is $29.46. The company has a market capitalization of $103.98 billion, a price-to-earnings ratio of 5.38, a P/E/G ratio of 2.22 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given 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 4.6%. Comcast’s dividend payout ratio (DPR) is 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.