Provence Wealth Management Group Sells 687 Shares of Comcast Co. (NASDAQ:CMCSA)

Provence Wealth Management Group lowered its position in Comcast Co. (NASDAQ:CMCSA) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,204 shares of the cable giant’s stock after selling 687 shares during the period. Provence Wealth Management Group’s holdings in Comcast were worth $579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Everett Harris & Co. CA lifted its holdings in shares of Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after purchasing an additional 121,279 shares during the last quarter. Desjardins Global Asset Management Inc. boosted its holdings in Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in Comcast by 10.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after acquiring an additional 10,936 shares in the last quarter. Altus Wealth Group LLC grew its stake in shares of Comcast by 8.3% in the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after acquiring an additional 1,432 shares during the last quarter. Finally, PFG Advisors increased its holdings in shares of Comcast by 28.8% during the fourth quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after acquiring an additional 5,159 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research report on Wednesday, April 3rd. Citigroup dropped their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Evercore ISI reissued an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Finally, Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $44.00 in a report on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Comcast Trading Up 0.9 %

Shares of NASDAQ:CMCSA traded up $0.33 during trading on Friday, reaching $38.69. The company’s stock had a trading volume of 22,278,723 shares, compared to its average volume of 22,677,254. The stock has a market capitalization of $153.67 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm’s 50 day simple moving average is $41.26 and its two-hundred day simple moving average is $42.38.

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