Comcast Co. (NASDAQ:CMCSA) Shares Sold by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 2.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 59,905 shares of the cable giant’s stock after selling 1,415 shares during the period. Petredis Investment Advisors LLC’s holdings in Comcast were worth $2,248,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fred Alger Management LLC raised its stake in shares of Comcast by 5.6% in the second quarter. Fred Alger Management LLC now owns 129,580 shares of the cable giant’s stock worth $5,074,000 after purchasing an additional 6,818 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Comcast during the 2nd quarter worth approximately $11,075,000. The Manufacturers Life Insurance Company lifted its stake in Comcast by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,338,254 shares of the cable giant’s stock valued at $169,886,000 after acquiring an additional 159,194 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $3,587,000. Finally, Kathmere Capital Management LLC increased its stake in shares of Comcast by 18.0% in the second quarter. Kathmere Capital Management LLC now owns 13,174 shares of the cable giant’s stock worth $516,000 after acquiring an additional 2,010 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction that occurred 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 directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction 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 sale, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Comcast in a report on Tuesday, November 19th. Loop Capital dropped their target price on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley lowered shares of Comcast from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $45.00 in a report on Monday, December 16th. Finally, Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $47.75 to $48.00 in a report on Friday, November 1st. One 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.33.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $37.62 on Friday. The stock has a market capitalization of $143.95 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Comcast Co. has a 52 week low of $36.15 and a 52 week high of $47.11. The firm has a 50-day simple moving average of $39.42 and a 200-day simple moving average of $40.14. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

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.