Parsons Capital Management Inc. RI Has $4.39 Million Holdings in Comcast Co. (NASDAQ:CMCSA)

Parsons Capital Management Inc. RI lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,921 shares of the cable giant’s stock after selling 12,994 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Comcast were worth $4,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMCSA. Susquehanna Fundamental Investments LLC acquired a new stake in Comcast in the 2nd quarter worth approximately $3,587,000. Kathmere Capital Management LLC lifted its holdings in Comcast by 18.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 13,174 shares of the cable giant’s stock worth $516,000 after purchasing an additional 2,010 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in Comcast by 14.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 11,821 shares of the cable giant’s stock worth $463,000 after purchasing an additional 1,532 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC lifted its holdings in Comcast by 0.8% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 96,370 shares of the cable giant’s stock worth $3,774,000 after purchasing an additional 734 shares during the last quarter. Finally, Ascent Group LLC lifted its holdings in Comcast by 6.6% in the 2nd quarter. Ascent Group LLC now owns 62,262 shares of the cable giant’s stock worth $2,438,000 after purchasing an additional 3,834 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent research reports. Loop Capital cut their target price on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Seaport Res Ptn upgraded Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

Insider Activity

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the firm’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 completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast 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 transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $38.19 on Monday. Comcast Co. has a 12-month low of $36.15 and a 12-month high of $47.11. The business has a 50-day simple moving average of $39.31 and a two-hundred day simple moving average of $40.18. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market cap of $146.14 billion, a PE ratio of 10.12, a PEG ratio of 1.35 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating 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 company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Comcast Co. will post 4.25 earnings per share for the current fiscal 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.