New Mexico Educational Retirement Board Increases Holdings in Comcast Co. (NASDAQ:CMCSA)

New Mexico Educational Retirement Board boosted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 21.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,016 shares of the cable giant’s stock after acquiring an additional 46,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Comcast were worth $12,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. Greenwich Wealth Management LLC raised its position in shares of Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after buying an additional 219 shares during the last quarter. Legend Financial Advisors Inc. raised its position in shares of Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after buying an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. raised its position in shares of Comcast by 1.6% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after buying an additional 226 shares during the last quarter. Keystone Financial Services raised its position in shares of Comcast by 1.1% during the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after buying an additional 229 shares during the last quarter. Finally, Bollard Group LLC raised its position in shares of Comcast by 0.7% during the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 2.3 %

CMCSA stock traded up $0.88 during midday trading on Friday, reaching $39.16. The company’s stock had a trading volume of 38,288,913 shares, compared to its average volume of 19,560,456. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a market cap of $153.65 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The business’s 50-day simple moving average is $38.71 and its 200-day simple moving average is $41.39.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping 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%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. As a group, sell-side analysts expect that Comcast Co. will post 4.21 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.17%. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CMCSA. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research report on Tuesday, June 11th. Wells Fargo & Company dropped their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Scotiabank dropped their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group began coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $48.62.

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.