Letko Brosseau & Associates Inc. decreased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,860,201 shares of the cable giant’s stock after selling 195,530 shares during the quarter. Comcast makes up 1.2% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 27th largest position. Letko Brosseau & Associates Inc. owned 0.06% of Comcast worth $120,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Dimensional Fund Advisors LP raised its holdings in Comcast by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,579,451 shares of the cable giant’s stock worth $1,824,544,000 after acquiring an additional 326,417 shares in the last quarter. Geode Capital Management LLC raised its holdings in Comcast by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock worth $2,165,450,000 after acquiring an additional 5,992,911 shares in the last quarter. M Holdings Securities Inc. raised its holdings in Comcast by 7.2% during the fourth quarter. M Holdings Securities Inc. now owns 17,333 shares of the cable giant’s stock worth $590,000 after acquiring an additional 1,171 shares in the last quarter. B. Riley Wealth Management Inc. raised its holdings in Comcast by 9.4% during the fourth quarter. B. Riley Wealth Management Inc. now owns 10,493 shares of the cable giant’s stock worth $357,000 after acquiring an additional 900 shares in the last quarter. Finally, Executive Wealth Management LLC bought a new stake in Comcast during the fourth quarter worth about $85,000. Institutional investors own 82.66% of the company’s stock.
In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the completion of the sale, the senior vice president now directly owns 4,712 shares in the company, valued at $195,359.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.35% of the stock is owned by corporate insiders.
Several analysts recently issued reports on CMCSA shares. Morgan Stanley upped their target price on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James downgraded Comcast from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $25.00 to $21.00 in a research report on Friday, June 14th. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research report on Thursday. Guggenheim raised Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price target on the stock in a research report on Thursday, May 30th. Finally, Goldman Sachs Group raised Comcast from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $54.00 in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.44.
Shares of CMCSA stock traded down $0.17 during trading on Thursday, hitting $42.20. The company had a trading volume of 6,564,061 shares, compared to its average volume of 17,327,420. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The company has a market cap of $192.71 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.17 and a beta of 1.08. The stock’s 50-day simple moving average is $43.39. Comcast Co. has a one year low of $32.61 and a one year high of $45.29.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The firm had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.08 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. On average, analysts predict that Comcast Co. will post 3.07 EPS for the current year.
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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