Wedge Capital Management L L P NC Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

Wedge Capital Management L L P NC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,282 shares of the cable giant’s stock after selling 425 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Comcast were worth $363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Envestnet Asset Management Inc. lifted its stake in Comcast by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock worth $446,303,000 after purchasing an additional 2,861,358 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Comcast by 43.3% during the third quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant’s stock worth $279,843,000 after purchasing an additional 1,907,973 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Comcast by 422.9% during the fourth quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant’s stock valued at $73,616,000 after acquiring an additional 1,357,756 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Comcast by 35.5% during the third quarter. Canada Pension Plan Investment Board now owns 4,689,476 shares of the cable giant’s stock valued at $207,931,000 after acquiring an additional 1,227,469 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock opened at $38.57 on Friday. The company’s 50-day moving average price is $41.58 and its two-hundred day moving average price is $42.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The stock has a market cap of $153.19 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.98. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, sell-side analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Comcast news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMCSA shares. Scotiabank reduced their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Friday. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Comcast in a report on Tuesday, March 26th. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday, April 10th. Finally, Citigroup lifted their price objective on shares of Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Comcast Company 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.