State of Michigan Retirement System Grows Stock Position in Comcast Co. (NASDAQ:CMCSA)

State of Michigan Retirement System boosted its position in Comcast Co. (NASDAQ:CMCSA) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,106,289 shares of the cable giant’s stock after buying an additional 54,200 shares during the period. State of Michigan Retirement System’s holdings in Comcast were worth $41,519,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CMCSA. Winch Advisory Services LLC boosted its stake in shares of Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Comcast in the third quarter valued at $30,000. Roxbury Financial LLC purchased a new stake in shares of Comcast during the 4th quarter worth $27,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Comcast during the 4th quarter worth $28,000. Finally, Dunhill Financial LLC increased its holdings in shares of Comcast by 54.8% in the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 288 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Macquarie decreased their price objective on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Barclays reduced their price objective on Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Benchmark lowered their target price on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Citigroup cut their price target on Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Comcast has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Comcast Trading Up 0.3 %

Shares of CMCSA opened at $35.98 on Tuesday. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31. The company has a market capitalization of $136.04 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The stock has a fifty day moving average of $36.28 and a two-hundred day moving average of $39.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, analysts forecast that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This is a positive change from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s dividend payout ratio is presently 31.81%.

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.