Comcast Co. (NASDAQ:CMCSA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 8.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 577,437 shares of the cable giant’s stock after selling 51,460 shares during the period. State of Alaska Department of Revenue’s holdings in Comcast were worth $25,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC boosted its holdings in Comcast by 538.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 173,791 shares of the cable giant’s stock valued at $7,706,000 after purchasing an additional 146,588 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Comcast by 138.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 104,567 shares of the cable giant’s stock valued at $4,637,000 after buying an additional 60,710 shares during the last quarter. Alps Advisors Inc. raised its stake in Comcast by 58.0% during the 3rd quarter. Alps Advisors Inc. now owns 691,935 shares of the cable giant’s stock worth $30,680,000 after acquiring an additional 253,986 shares in the last quarter. EHP Funds Inc. purchased a new stake in Comcast in the third quarter valued at $519,000. Finally, Legacy Advisors LLC boosted its stake in Comcast by 2.8% in the third quarter. Legacy Advisors LLC now owns 29,753 shares of the cable giant’s stock valued at $1,319,000 after acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Comcast in a report on Monday, May 13th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Oppenheimer reissued an “outperform” rating and issued a $55.00 target price on shares of Comcast in a report on Wednesday, April 3rd. Finally, Scotiabank decreased their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.53.

Insider Activity

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock traded down $0.11 on Wednesday, hitting $38.05. 7,657,993 shares of the stock traded hands, compared to its average volume of 20,520,629. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company’s fifty day moving average is $38.62 and its 200 day moving average is $41.28. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $149.29 billion, a PE ratio of 10.07, a PEG ratio of 0.98 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. Comcast’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. On average, equities research analysts predict that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.26%. Comcast’s dividend payout ratio is currently 32.80%.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.