Monterey Private Wealth Inc. decreased its stake in Comcast Co. (NASDAQ:CMCSA) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,273 shares of the cable giant’s stock after selling 616 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Comcast were worth $395,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. JustInvest LLC raised its position in Comcast by 48.0% in the 1st quarter. JustInvest LLC now owns 64,957 shares of the cable giant’s stock valued at $3,515,000 after purchasing an additional 21,074 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its position in shares of Comcast by 21.9% during the first quarter. Sound View Wealth Advisors Group LLC now owns 35,958 shares of the cable giant’s stock worth $1,946,000 after acquiring an additional 6,464 shares during the last quarter. US Bancorp DE raised its position in shares of Comcast by 0.5% during the first quarter. US Bancorp DE now owns 2,884,093 shares of the cable giant’s stock worth $156,060,000 after acquiring an additional 14,344 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Comcast by 11.1% during the first quarter. Park Avenue Securities LLC now owns 82,072 shares of the cable giant’s stock worth $4,441,000 after acquiring an additional 8,198 shares during the last quarter. Finally, JJJ Advisors Inc. raised its position in shares of Comcast by 54.3% during the first quarter. JJJ Advisors Inc. now owns 2,910 shares of the cable giant’s stock worth $157,000 after acquiring an additional 1,024 shares during the last quarter. 82.56% of the stock is currently owned by institutional investors and hedge funds.
CMCSA has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Comcast from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 10th. Truist upped their price objective on Comcast from $50.00 to $60.00 in a report on Friday, January 29th. Benchmark boosted their target price on Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 9th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their target price on Comcast from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays boosted their target price on Comcast from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, February 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. Comcast presently has an average rating of “Buy” and a consensus target price of $61.75.
Shares of NASDAQ CMCSA traded down $0.05 during trading hours on Tuesday, reaching $56.52. 449,972 shares of the stock were exchanged, compared to its average volume of 18,147,564. The firm has a market capitalization of $258.90 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.69 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.93 and a current ratio of 0.93. Comcast Co. has a 52 week low of $34.17 and a 52 week high of $58.58. The stock’s fifty day simple moving average is $55.07 and its 200 day simple moving average is $51.36.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 29th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. The business had revenue of $27.21 billion for the quarter, compared to the consensus estimate of $26.83 billion. Comcast had a return on equity of 15.45% and a net margin of 9.90%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Research analysts predict that Comcast Co. will post 2.54 EPS for the current fiscal year.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.
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