Praxis Investment Management Inc. Lowers Stake in Comcast Corporation $CMCSA

Praxis Investment Management Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,800 shares of the cable giant’s stock after selling 23,304 shares during the period. Praxis Investment Management Inc.’s holdings in Comcast were worth $3,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Encompass More Asset Management grew its stake in Comcast by 20.9% in the fourth quarter. Encompass More Asset Management now owns 19,430 shares of the cable giant’s stock worth $581,000 after purchasing an additional 3,362 shares in the last quarter. Manske Wealth Management increased its position in Comcast by 35.1% during the 4th quarter. Manske Wealth Management now owns 47,879 shares of the cable giant’s stock valued at $1,431,000 after purchasing an additional 12,429 shares during the period. Indivisible Partners bought a new stake in shares of Comcast in the 4th quarter valued at about $207,000. Swedbank AB lifted its position in shares of Comcast by 5.8% in the 4th quarter. Swedbank AB now owns 2,490,605 shares of the cable giant’s stock worth $74,444,000 after purchasing an additional 136,033 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Comcast by 4.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,028,622 shares of the cable giant’s stock valued at $237,165,000 after purchasing an additional 353,965 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value 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 represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Comcast Stock Performance

CMCSA opened at $26.44 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. The firm has a 50 day moving average of $29.19 and a two-hundred day moving average of $28.95. The firm has a market capitalization of $94.45 billion, a PE ratio of 5.20, a P/E/G ratio of 2.13 and a beta of 0.71.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 3.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Comcast from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a report on Friday, April 24th. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada upped their price target on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Morgan Stanley raised their price objective on Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Finally, Barclays set a $28.00 target price on Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.94.

Comcast Profile

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.