Berry Wealth Group LP Acquires New Position in Comcast Co. (NASDAQ:CMCSA)

Berry Wealth Group LP bought a new position in shares of Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,935 shares of the cable giant’s stock, valued at approximately $2,804,000. Comcast accounts for 2.6% of Berry Wealth Group LP’s holdings, making the stock its 17th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Everett Harris & Co. CA raised its stake in shares of Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after buying an additional 121,279 shares during the last quarter. Desjardins Global Asset Management Inc. increased its holdings in Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after acquiring an additional 1,486 shares in the last quarter. Altus Wealth Group LLC raised its position in Comcast by 8.3% during the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after acquiring an additional 1,432 shares during the last quarter. PFG Advisors lifted its holdings in shares of Comcast by 28.8% in the fourth quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after purchasing an additional 5,159 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Comcast in the third quarter valued at approximately $8,868,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMCSA. Deutsche Bank Aktiengesellschaft reduced their price objective on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Citigroup decreased their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Scotiabank cut their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Comcast in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Comcast Stock Performance

Shares of CMCSA traded up $0.15 during mid-day trading on Wednesday, hitting $38.26. The stock had a trading volume of 7,387,732 shares, compared to its average volume of 20,703,301. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The company has a market cap of $151.96 billion, a PE ratio of 10.13, a PEG ratio of 0.97 and a beta of 0.98. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The company’s fifty day simple moving average is $41.47 and its two-hundred day simple moving average is $42.47.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Company 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.