Wealthfront Advisers LLC Has $4.50 Million Stock Position in Comcast Corporation $CMCSA

Wealthfront Advisers LLC lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 29.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 150,459 shares of the cable giant’s stock after selling 64,050 shares during the period. Wealthfront Advisers LLC’s holdings in Comcast were worth $4,497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Imprint Wealth LLC acquired a new stake in shares of Comcast during the third quarter worth $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast during the third quarter worth $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast during the fourth quarter worth $29,000. Richardson Financial Services Inc. lifted its holdings in shares of Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Comcast during the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research reports. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Scotiabank lifted their target price on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Benchmark decreased their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, Citigroup raised their price target on Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.94.

Comcast Stock Performance

Comcast stock opened at $27.04 on Friday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The business’s 50-day moving average price is $29.39 and its two-hundred day moving average price is $29.00. The stock has a market cap of $97.29 billion, a PE ratio of 5.32, a P/E/G ratio of 2.15 and a beta of 0.80.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts expect that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.32% of the stock is currently owned by corporate insiders.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.