Wealth Effects LLC Lowers Position in Comcast Co. (NASDAQ:CMCSA)

Wealth Effects LLC lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,285 shares of the cable giant’s stock after selling 971 shares during the quarter. Wealth Effects LLC’s holdings in Comcast were worth $574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after purchasing an additional 6,062,658 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Comcast by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after acquiring an additional 416,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Comcast by 6.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after buying an additional 1,717,762 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Comcast by 5.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after purchasing an additional 822,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Comcast by 4.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock worth $623,146,000 after buying an additional 676,920 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Comcast in a research report on Tuesday, November 19th. 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. Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $48.00 to $45.00 in a research report on Monday, December 16th. TD Cowen decreased their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company cut their price target on shares of Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

Comcast Price Performance

Comcast stock opened at $38.23 on Tuesday. 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 firm has a market capitalization of $146.29 billion, a P/E ratio of 10.28, a PEG ratio of 1.35 and a beta of 1.01. The firm has a fifty day moving average of $39.31 and a 200-day moving average of $40.18. Comcast Co. has a 52-week low of $36.15 and a 52-week high of $47.11.

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

Insider Activity

In related news, 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 sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Company 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.