Chemung Canal Trust Co. Cuts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Chemung Canal Trust Co. lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,024 shares of the cable giant’s stock after selling 2,986 shares during the quarter. Chemung Canal Trust Co.’s holdings in Comcast were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. World Investment Advisors LLC grew its holdings in Comcast by 904.0% during the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after acquiring an additional 229,192 shares during the period. Tidal Investments LLC grew its stake in shares of Comcast by 15.2% during the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after purchasing an additional 22,684 shares during the period. Parnassus Investments LLC increased its holdings in shares of Comcast by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after purchasing an additional 15,807 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Comcast during the third quarter worth about $2,541,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMCSA. Deutsche Bank Aktiengesellschaft boosted their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI raised Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Morgan Stanley downgraded Comcast from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $48.00 to $45.00 in a research note on Monday, December 16th. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, Benchmark restated a “buy” rating and set a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

Comcast Stock Up 0.4 %

CMCSA opened at $37.62 on Friday. The company has a market cap of $143.95 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. Comcast Co. has a 1 year low of $36.15 and a 1 year high of $47.11. The firm has a 50 day moving average price of $39.42 and a 200 day moving average price of $40.14.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Comcast Co. will post 4.25 earnings per share for the current year.

Insiders Place Their Bets

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Comcast Company 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.