Strs Ohio Acquires 266,599 Shares of Comcast Corporation $CMCSA

Strs Ohio increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,217,570 shares of the cable giant’s stock after purchasing an additional 266,599 shares during the quarter. Strs Ohio owned approximately 0.06% of Comcast worth $69,676,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMCSA. Capital A Wealth Management LLC boosted its holdings in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the last quarter. Global Trust Asset Management LLC boosted its position in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Avalon Trust Co grew its stake in shares of 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 in the second quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC boosted its holdings 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. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 1.2%

Shares of CMCSA stock opened at $29.23 on Friday. The firm’s fifty day moving average price is $28.17 and its two-hundred day moving average price is $30.62. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $38.40. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $106.51 billion, a P/E ratio of 4.86, a PEG ratio of 2.06 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The business had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $30.74 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s dividend payout ratio is 21.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMCSA. Evercore ISI lowered their price target on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Barclays set a $28.00 price target on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Loop Capital decreased their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target (down previously from $39.00) on shares of Comcast in a report on Friday, October 31st. Eleven research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.53.

About Comcast

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.