Comcast (NASDAQ:CMCSA) Given New $28.00 Price Target at The Goldman Sachs Group

Comcast (NASDAQ:CMCSA) had its price target cut by The Goldman Sachs Group from $30.00 to $28.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the cable giant’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 4.61% from the stock’s current price.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Scotiabank lowered their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research note on Friday, January 30th. Royal Bank Of Canada cut their target price on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Sanford C. Bernstein decreased their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Finally, Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.79.

Comcast Trading Up 0.5%

CMCSA stock opened at $29.35 on Wednesday. The company’s 50-day simple moving average is $30.29 and its 200 day simple moving average is $29.60. The company has a market capitalization of $105.60 billion, a PE ratio of 5.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast has a 52 week low of $25.75 and a 52 week high of $37.72.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Comcast will post 4.33 earnings per share for the current year.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by insiders.

Institutional Trading of Comcast

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. State Street Corp increased its position in shares of Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Capital World Investors raised its holdings in shares of Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after buying an additional 24,166,881 shares in the last quarter. Dodge & Cox lifted its position in Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after buying an additional 399,596 shares during the last quarter. Finally, Norges Bank bought a new position in Comcast during the second quarter valued at approximately $3,528,361,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.