TIAA Trust National Association Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

TIAA Trust National Association lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,354 shares of the cable giant’s stock after selling 11,625 shares during the quarter. TIAA Trust National Association’s holdings in Comcast were worth $9,608,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in Comcast in the 4th quarter valued at approximately $2,542,988,000. Capital World Investors boosted its position in shares of Comcast by 17.0% in the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Comcast by 25,881.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after acquiring an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after purchasing an additional 4,714,586 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several analyst reports. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. KeyCorp lowered their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Pivotal Research dropped their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group assumed coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Down 0.2 %

Shares of Comcast stock opened at $39.50 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The business has a 50-day moving average of $39.19 and a 200-day moving average of $39.87. The company has a market capitalization of $154.98 billion, a PE ratio of 10.45, a P/E/G ratio of 1.05 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. As a group, equities analysts forecast that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. Comcast’s payout ratio is 32.80%.

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.