420,696 Shares in Comcast Corporation $CMCSA Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 420,696 shares of the cable giant’s stock, valued at approximately $15,015,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in Comcast during the first quarter worth about $26,000. Global Trust Asset Management LLC increased its holdings in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares during the period. Ransom Advisory Ltd acquired a new position in Comcast in the first quarter valued at approximately $29,000. Finally, Abound Financial LLC acquired a new stake in Comcast during the first quarter worth $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, September 10th. KeyCorp lowered their target price on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. Royal Bank Of Canada initiated coverage on shares of Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price target for the company. Scotiabank restated a “sector perform” rating and issued a $45.50 price objective (up from $45.00) on shares of Comcast in a report on Monday, October 6th. Finally, Morgan Stanley set a $35.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.76.

Comcast Stock Up 1.0%

Shares of CMCSA opened at $29.54 on Monday. The company’s 50-day simple moving average is $32.23 and its 200-day simple moving average is $33.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a 1 year low of $29.15 and a 1 year high of $45.31. The stock has a market capitalization of $109.07 billion, a PE ratio of 4.88, a P/E/G ratio of 1.75 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The firm had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Comcast Profile

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.