Valley Wealth Managers Inc. Grows Stake in Comcast Corporation $CMCSA

Valley Wealth Managers Inc. raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 21.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 143,014 shares of the cable giant’s stock after buying an additional 25,441 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Comcast were worth $4,275,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter worth $26,000. United Financial Planning Group LLC bought a new stake in Comcast in the third quarter valued at $28,000. Olistico Wealth LLC purchased a new position in Comcast during the 4th quarter valued at $29,000. Richardson Financial Services Inc. increased its position in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares during the period. Finally, Lodestone Wealth Management LLC bought a new position in Comcast in the 4th quarter worth $33,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on Wednesday, February 11th. The shares were 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 directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $25.03 on Tuesday. The company’s fifty day moving average price is $28.86 and its 200-day moving average price is $28.86. The stock has a market cap of $89.41 billion, a PE ratio of 4.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12 month low of $24.87 and a 12 month high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period last year, the business earned $1.09 EPS. Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research analyst reports. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Barclays set a $28.00 price target on shares of Comcast and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 price objective on shares of Comcast in a report on Thursday, April 23rd. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Finally, UBS Group reduced their target price on Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.94.

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.