Cary Street Partners Investment Advisory LLC Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Cary Street Partners Investment Advisory LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,991 shares of the cable giant’s stock after selling 13,022 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Comcast were worth $1,096,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NewSquare Capital LLC increased its stake in shares of Comcast by 94.1% in the 3rd quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after acquiring an additional 302 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after purchasing an additional 475,675 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Comcast during the fourth quarter worth about $34,000. Lipe & Dalton acquired a new stake in Comcast during the fourth quarter worth about $37,000. Finally, Valued Wealth Advisors LLC purchased a new position in Comcast during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 1.9 %

NASDAQ CMCSA opened at $38.11 on Wednesday. The firm has a 50 day simple moving average of $41.47 and a 200-day simple moving average of $42.47. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The firm has a market cap of $151.37 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.97 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CMCSA shares. Wells Fargo & Company reduced their target price on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.60.

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.