State of New Jersey Common Pension Fund D Sells 230,300 Shares of Comcast Co. (NASDAQ:CMCSA)

State of New Jersey Common Pension Fund D lessened its position in Comcast Co. (NASDAQ:CMCSA) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,469,700 shares of the cable giant’s stock after selling 230,300 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Comcast were worth $156,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new position in shares of Comcast during the 2nd quarter worth about $25,000. Evolution Wealth Advisors LLC acquired a new position in Comcast in the second quarter valued at about $26,000. Mackey Komara & Dankovich LLC boosted its position in Comcast by 52.2% in the second quarter. Mackey Komara & Dankovich LLC now owns 1,032 shares of the cable giant’s stock valued at $29,000 after buying an additional 354 shares in the last quarter. Bray Capital Advisors acquired a new position in Comcast in the second quarter valued at about $30,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Comcast in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 82.82% of the company’s stock.

Shares of CMCSA traded down $0.98 on Thursday, reaching $44.75. 10,281,539 shares of the company’s stock were exchanged, compared to its average volume of 14,394,874. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $208.02 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. The business has a 50 day moving average price of $45.58 and a two-hundred day moving average price of $43.52. Comcast Co. has a 12 month low of $32.61 and a 12 month high of $47.27.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The business had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. Comcast’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities research analysts predict that Comcast Co. will post 3.06 EPS for the current year.

In other news, SVP Daniel C. Murdock sold 848 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total transaction of $37,507.04. Following the completion of the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at $151,222.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth J. Bacon sold 4,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total transaction of $180,120.00. Following the sale, the director now directly owns 29,603 shares of the company’s stock, valued at approximately $1,333,023.09. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

A number of research firms have commented on CMCSA. BidaskClub upgraded shares of Comcast from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America set a $58.00 price target on shares of Comcast and gave the company a “buy” rating in a research report on Wednesday, August 21st. Benchmark began coverage on shares of Comcast in a research report on Wednesday, September 25th. They issued a “buy” rating and a $64.00 price target on the stock. ValuEngine lowered shares of Comcast from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co began coverage on shares of Comcast in a research report on Tuesday, August 27th. They issued an “outperform” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.06.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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