Institute for Wealth Management LLC. Decreases Holdings in Comcast Co. (NASDAQ:CMCSA)

Institute for Wealth Management LLC. lowered its position in Comcast Co. (NASDAQ:CMCSA) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,246 shares of the cable giant’s stock after selling 431 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Comcast were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Koshinski Asset Management Inc. raised its position in shares of Comcast by 0.8% during the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after buying an additional 249 shares during the last quarter. Taurus Asset Management LLC increased its holdings in Comcast by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after acquiring an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Comcast by 3.1% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Comcast by 4.7% during the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after purchasing an additional 260 shares in the last quarter. Finally, Saxon Interests Inc. increased its holdings in shares of Comcast by 2.0% in the third quarter. Saxon Interests Inc. now owns 13,554 shares of the cable giant’s stock worth $566,000 after purchasing an additional 262 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents 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 available through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents 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 company insiders.

Comcast Trading Down 11.0 %

Shares of CMCSA opened at $33.25 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $127.23 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.36 and a beta of 1.01. The company has a 50-day moving average of $39.01 and a 200 day moving average of $40.15. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. On average, research analysts expect that Comcast Co. will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Comcast from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen dropped their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. KeyCorp upped their target price 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. Finally, Macquarie reiterated a “neutral” rating and issued a $42.00 price target on shares of Comcast in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.89.

Comcast Profile

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.