Comcast Co. (NASDAQ:CMCSA) Shares Sold by Sweeney & Michel LLC

Sweeney & Michel LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 50.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,440 shares of the cable giant’s stock after selling 8,691 shares during the quarter. Sweeney & Michel LLC’s holdings in Comcast were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Comcast in the second quarter valued at $26,000. McClarren Financial Advisors Inc. increased its position in shares of Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the period. IAG Wealth Partners LLC boosted its position in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. Archer Investment Corp lifted its stake in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the period. Finally, Lynx Investment Advisory bought a new stake in shares of Comcast in the 2nd quarter valued at approximately $36,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCSA shares. Macquarie reissued a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.58.

Comcast Stock Performance

CMCSA stock traded up $1.18 during mid-day trading on Tuesday, hitting $41.71. 3,884,917 shares of the company were exchanged, compared to its average volume of 19,497,047. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $163.65 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business has a 50 day simple moving average of $40.34 and a 200-day simple moving average of $39.43. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the firm earned $1.13 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

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.