Comcast Co. (NASDAQ:CMCSA) Shares Sold by Redmond Asset Management LLC

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Redmond Asset Management LLC decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 4.2% in the second quarter, Holdings Channel reports. The firm owned 50,838 shares of the cable giant’s stock after selling 2,220 shares during the period. Redmond Asset Management LLC’s holdings in Comcast were worth $2,149,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Archford Capital Strategies LLC lifted its position in Comcast by 6.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 4,134 shares of the cable giant’s stock worth $175,000 after acquiring an additional 240 shares during the period. Ironwood Investment Counsel LLC lifted its position in Comcast by 0.5% during the 2nd quarter. Ironwood Investment Counsel LLC now owns 51,524 shares of the cable giant’s stock worth $2,178,000 after acquiring an additional 243 shares during the period. SevenBridge Financial Group LLC lifted its position in Comcast by 0.6% during the 2nd quarter. SevenBridge Financial Group LLC now owns 41,429 shares of the cable giant’s stock worth $1,752,000 after acquiring an additional 249 shares during the period. Camarda Financial Advisors LLC lifted its position in Comcast by 8.1% during the 1st quarter. Camarda Financial Advisors LLC now owns 3,331 shares of the cable giant’s stock worth $133,000 after acquiring an additional 250 shares during the period. Finally, Mechanics Bank Trust Department lifted its position in Comcast by 1.8% during the 2nd quarter. Mechanics Bank Trust Department now owns 13,918 shares of the cable giant’s stock worth $588,000 after acquiring an additional 252 shares during the period. 82.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Comcast stock remained flat at $$42.37 on Thursday. The company had a trading volume of 5,434,042 shares, compared to its average volume of 17,327,420. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. Comcast Co. has a 1 year low of $32.61 and a 1 year high of $45.29. The firm’s 50-day moving average price is $43.39. The stock has a market capitalization of $192.71 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.17 and a beta of 1.08.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $27.08 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Comcast’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities analysts anticipate that Comcast Co. will post 3.07 earnings per share for the current year.

In related news, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total value of $70,523.46. Following the completion of the transaction, the senior vice president now owns 4,712 shares in the company, valued at approximately $195,359.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.35% of the stock is owned by insiders.

CMCSA has been the subject of a number of research reports. Raymond James cut 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. TD Securities boosted their price objective on Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 29th. Guggenheim raised Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective for the company in a report on Thursday, May 30th. Rosenblatt Securities initiated coverage on Comcast in a report on Friday, June 14th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, ValuEngine cut Comcast from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.44.

About Comcast

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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Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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