Comcast Co. (NASDAQ:CMCSA) Position Cut by Phoenix Wealth Advisors

by · The Markets Daily

Phoenix Wealth Advisors reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 63.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,956 shares of the cable giant’s stock after selling 39,379 shares during the period. Phoenix Wealth Advisors’ holdings in Comcast were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB grew its holdings in Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock worth $345,565,000 after acquiring an additional 8,258,128 shares during the period. FMR LLC grew its holdings in Comcast by 5.4% during the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. AQR Capital Management LLC grew its holdings in Comcast by 92.1% during the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after acquiring an additional 4,182,525 shares during the period. Public Sector Pension Investment Board grew its holdings in Comcast by 530.5% during the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after acquiring an additional 2,885,370 shares during the period. Finally, Darsana Capital Partners LP grew its holdings in Comcast by 26.7% during the second quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock worth $372,020,000 after acquiring an additional 2,000,000 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Insider Activity

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research analyst reports. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Loop Capital dropped their price target on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, November 6th. KeyCorp lifted their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Macquarie reissued a “neutral” rating and issued a $42.00 price target on shares of Comcast in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

View Our Latest Stock Report on CMCSA

Comcast Stock Up 1.1 %

Shares of Comcast stock opened at $36.97 on Wednesday. The stock has a 50-day simple moving average of $39.67 and a 200-day simple moving average of $40.18. Comcast Co. has a 52-week low of $36.15 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $141.47 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 1.33 and a beta of 1.01.

Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Profile

(Free Report)

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.

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