Wright Investors Service Inc. reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 8.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 174,137 shares of the cable giant’s stock after selling 16,361 shares during the quarter. Comcast accounts for approximately 2.8% of Wright Investors Service Inc.’s portfolio, making the stock its 4th largest holding. Wright Investors Service Inc.’s holdings in Comcast were worth $7,363,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of CMCSA. Norges Bank bought a new stake in Comcast in the 4th quarter valued at about $1,590,157,000. Nordea Investment Management AB increased its position in shares of Comcast by 67.5% during the first quarter. Nordea Investment Management AB now owns 17,274,883 shares of the cable giant’s stock valued at $690,651,000 after buying an additional 6,960,677 shares during the period. Geode Capital Management LLC increased its position in shares of Comcast by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock valued at $2,165,450,000 after buying an additional 5,992,911 shares during the period. FMR LLC increased its position in shares of Comcast by 3.9% during the fourth quarter. FMR LLC now owns 128,168,481 shares of the cable giant’s stock valued at $4,364,136,000 after buying an additional 4,854,006 shares during the period. Finally, Boston Partners increased its position in shares of Comcast by 7.8% during the first quarter. Boston Partners now owns 34,296,383 shares of the cable giant’s stock valued at $1,371,169,000 after buying an additional 2,472,741 shares during the period. 82.66% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on CMCSA. Guggenheim upgraded Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price target on the stock in a research report on Thursday, May 30th. Pivotal Research reiterated a “buy” rating and set a $54.00 price target on shares of Comcast in a research report on Wednesday, June 26th. TD Securities upped their price target on Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Morgan Stanley upped their price target on Comcast from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. Comcast currently has an average rating of “Buy” and an average price target of $45.44.
Shares of CMCSA stock traded up $0.04 during trading on Thursday, hitting $42.41. The company had a trading volume of 5,991,977 shares, compared to its average volume of 17,327,420. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The business’s 50-day simple moving average is $43.39. The firm has a market cap of $192.71 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. Comcast Co. has a 52 week low of $32.61 and a 52 week high of $45.29.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company had revenue of $26.86 billion for the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. Comcast’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. On average, research analysts anticipate that Comcast Co. will post 3.07 EPS for the current fiscal year.
In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $41.46, for a total value of $70,523.46. Following the completion of the sale, the senior vice president now owns 4,712 shares of the company’s stock, valued at $195,359.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.35% of the stock is owned by corporate insiders.
Comcast Company Profile
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, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
Read More: Technical Indicators – What is a Golden Cross?
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.