Townsend & Associates Inc Sells 617 Shares of Comcast Co. (NASDAQ:CMCSA)

Townsend & Associates Inc reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,714 shares of the cable giant’s stock after selling 617 shares during the period. Townsend & Associates Inc’s holdings in Comcast were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Everett Harris & Co. CA grew its holdings in Comcast by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. raised its position in shares of Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Comcast by 10.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after purchasing an additional 10,936 shares during the period. Altus Wealth Group LLC increased its holdings in Comcast by 8.3% during the 4th 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 period. Finally, PFG Advisors grew its stake in Comcast by 28.8% in the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after buying an additional 5,159 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CMCSA. Citigroup decreased their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Wells Fargo & Company dropped their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. Evercore ISI reiterated an “outperform” rating and set a $50.00 price objective on shares of Comcast in a research report on Tuesday, March 26th. Finally, StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Comcast Stock Down 0.9 %

CMCSA stock traded down $0.35 during trading hours on Thursday, reaching $38.70. 10,794,589 shares of the stock were exchanged, compared to its average volume of 20,969,311. The company has a market cap of $151.84 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.97 and a beta of 0.99. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The firm’s 50-day moving average is $41.11 and its 200-day moving average is $42.29. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59.

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

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.