Red Spruce Capital LLC Boosts Holdings in Comcast Co. (NASDAQ:CMCSA)

Red Spruce Capital LLC raised its position in shares of Comcast Co. (NASDAQ:CMCSA) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 50,550 shares of the cable giant’s stock after acquiring an additional 4,561 shares during the quarter. Red Spruce Capital LLC’s holdings in Comcast were worth $1,897,000 as of its most recent SEC filing.

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

Comcast Trading Up 1.1 %

CMCSA opened at $36.97 on Wednesday. The firm has a market cap of $141.47 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.33 and a beta of 1.01. Comcast Co. has a 12 month low of $36.15 and a 12 month high of $47.11. The stock has a 50-day moving average of $39.81 and a 200 day moving average of $40.18. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp increased their price objective on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Pivotal Research lifted their price target on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays boosted their price target on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, TD Cowen cut their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average price target of $47.33.

Insiders Place Their Bets

In related news, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

About Comcast

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.