RBA Wealth Management LLC Sells 96,957 Shares of Comcast Co. (NASDAQ:CMCSA)

RBA Wealth Management LLC lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 93.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,093 shares of the cable giant’s stock after selling 96,957 shares during the period. RBA Wealth Management LLC’s holdings in Comcast were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fairscale Capital LLC bought a new stake in Comcast in the second quarter valued at $26,000. McClarren Financial Advisors Inc. increased its stake in Comcast by 365.4% in 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 in the last quarter. IAG Wealth Partners LLC increased its stake in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares in the last quarter. Archer Investment Corp increased its stake in Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Comcast in the second quarter valued at $36,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMCSA. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Scotiabank boosted their target price on shares of Comcast from $47.25 to $47.75 and gave the stock a “sector perform” rating in a research report on Friday. Macquarie restated a “neutral” rating and set a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. Finally, Pivotal Research cut their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Comcast has a consensus rating of “Hold” and an average target price of $45.58.

Comcast Stock Performance

Shares of CMCSA stock traded up $1.12 during trading on Tuesday, reaching $41.65. 12,824,230 shares of the company’s stock traded hands, compared to its average volume of 19,540,867. The company has a market capitalization of $163.42 billion, a P/E ratio of 10.72, a PEG ratio of 1.10 and a beta of 1.01. 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 firm’s 50-day moving average is $40.34 and its 200 day moving average is $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 results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Equities research analysts expect that Comcast Co. will post 4.23 EPS 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.