First Citizens Bank & Trust Co. Boosts Holdings in Comcast Co. (NASDAQ:CMCSA)

First Citizens Bank & Trust Co. raised its stake in Comcast Co. (NASDAQ:CMCSA) by 50.3% during the third quarter, HoldingsChannel.com reports. The fund owned 105,811 shares of the cable giant’s stock after purchasing an additional 35,407 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Comcast were worth $4,420,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CMCSA. Steph & Co. grew its holdings in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Comcast in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the 2nd quarter valued at about $27,000. IAG Wealth Partners LLC lifted its holdings in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the last quarter. Finally, Archer Investment Corp grew its position in Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.7 %

NASDAQ:CMCSA opened at $41.93 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $164.52 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a 50-day moving average of $40.30 and a 200 day moving average of $39.47. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, research analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several recent analyst reports. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Macquarie reissued a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Barclays dropped their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Scotiabank raised their price target on Comcast from $47.25 to $47.75 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus price target of $45.58.

Comcast 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.