Comcast Corp. (CMCSA) Position Reduced by Grassi Investment Management
Grassi Investment Management decreased its stake in shares of Comcast Corp. (NASDAQ:CMCSA) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,128 shares of the cable giant’s stock after selling 900 shares during the period. Grassi Investment Management’s holdings in Comcast Corp. were worth $6,377,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. D Orazio & Associates Inc. boosted its position in Comcast Corp. by 5.3% in the second quarter. D Orazio & Associates Inc. now owns 1,563 shares of the cable giant’s stock valued at $102,000 after buying an additional 79 shares in the last quarter. Thompson Davis & CO. Inc. boosted its position in Comcast Corp. by 64.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,605 shares of the cable giant’s stock valued at $105,000 after buying an additional 630 shares in the last quarter. Oakworth Capital Inc. boosted its position in Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock valued at $107,000 after buying an additional 326 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in Comcast Corp. during the second quarter valued at $115,000. Finally, Proficio Capital Partners LLC boosted its position in Comcast Corp. by 80.1% in the second quarter. Proficio Capital Partners LLC now owns 1,704 shares of the cable giant’s stock valued at $116,000 after buying an additional 758 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded up 2.64% during mid-day trading on Tuesday, hitting $70.11. The stock had a trading volume of 12,544,021 shares. Comcast Corp. has a 52-week low of $52.34 and a 52-week high of $70.22. The firm has a 50 day moving average price of $64.93 and a 200 day moving average price of $65.14. The firm has a market cap of $167.76 billion, a PE ratio of 20.57 and a beta of 1.08.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, October 26th. The cable giant reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. Comcast Corp. had a return on equity of 15.22% and a net margin of 10.65%. The company had revenue of $21.32 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the firm earned $0.80 earnings per share. Comcast Corp.’s quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts predict that Comcast Corp. will post $3.50 EPS for the current year.
CMCSA has been the subject of a number of recent analyst reports. Telsey Advisory Group boosted their price objective on Comcast Corp. from $75.00 to $76.50 and gave the company an “outperform” rating in a report on Friday, August 19th. Robert W. Baird restated an “outperform” rating and set a $70.00 price objective on shares of Comcast Corp. in a report on Sunday, September 25th. Credit Suisse Group AG restated an “outperform” rating and set a $75.00 price objective (up previously from $69.00) on shares of Comcast Corp. in a report on Monday, August 1st. Jefferies Group restated a “buy” rating and set a $77.00 price objective on shares of Comcast Corp. in a report on Friday, October 7th. Finally, Barclays PLC restated an “overweight” rating and set a $70.00 price objective on shares of Comcast Corp. in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Comcast Corp. currently has a consensus rating of “Buy” and an average price target of $73.15.
In related news, EVP David L. Cohen sold 20,100 shares of the firm’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $65.01, for a total transaction of $1,306,701.00. Following the transaction, the executive vice president now owns 257,120 shares of the company’s stock, valued at $16,715,371.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David L. Cohen sold 19,886 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $62.21, for a total value of $1,237,108.06. Following the transaction, the executive vice president now directly owns 246,070 shares in the company, valued at approximately $15,308,014.70. The disclosure for this sale can be found here. Insiders own 1.27% of the company’s stock.
Comcast Corp. Company Profile
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
Receive News & Stock Ratings for Comcast Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast Corp. and related stocks with our FREE daily email newsletter.