Victory Capital Management Inc. Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Victory Capital Management Inc. cut its stake in Comcast Co. (NASDAQ:CMCSA) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,040,145 shares of the cable giant’s stock after selling 683,591 shares during the period. Victory Capital Management Inc. owned about 0.15% of Comcast worth $264,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Northern Trust Corp increased its position in Comcast by 0.3% during the 3rd quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock worth $2,040,522,000 after purchasing an additional 141,874 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Comcast by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock valued at $1,603,786,000 after acquiring an additional 1,229,374 shares during the last quarter. LSV Asset Management grew its holdings in shares of Comcast by 4.7% during the third quarter. LSV Asset Management now owns 15,118,600 shares of the cable giant’s stock worth $670,359,000 after buying an additional 685,400 shares in the last quarter. Raymond James & Associates raised its holdings in Comcast by 2.3% in the 4th quarter. Raymond James & Associates now owns 14,692,327 shares of the cable giant’s stock valued at $644,258,000 after acquiring an additional 329,278 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Comcast by 5.4% in the 4th quarter. California Public Employees Retirement System now owns 11,432,426 shares of the cable giant’s stock worth $501,312,000 after buying an additional 581,163 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMCSA. Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BNP Paribas reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Comcast Price Performance

CMCSA traded up $0.08 during trading on Wednesday, reaching $38.19. The stock had a trading volume of 7,754,770 shares, compared to its average volume of 20,711,092. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The firm has a market capitalization of $151.69 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98. The stock has a 50 day moving average of $41.47 and a two-hundred day moving average of $42.47. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the prior year, the company earned $0.92 EPS. Comcast’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal 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.