Comcast (NASDAQ:CMCSA) Price Target Lowered to $45.00 at Wells Fargo & Company

Comcast (NASDAQ:CMCSA) had its target price decreased by investment analysts at Wells Fargo & Company from $46.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the cable giant’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 18.23% from the stock’s current price.

CMCSA has been the subject of a number of other reports. Loop Capital dropped their price target on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday. Seaport Res Ptn upgraded Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Pivotal Research boosted their price target on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. Finally, Macquarie boosted their target price on shares of Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

Comcast Price Performance

Shares of CMCSA stock traded up $0.39 during trading hours on Monday, reaching $38.06. The company’s stock had a trading volume of 2,878,727 shares, compared to its average volume of 17,120,107. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm’s 50 day simple moving average is $41.25 and its 200-day simple moving average is $40.30. The company has a market capitalization of $145.64 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. Sell-side analysts forecast that Comcast will post 4.26 earnings per share for the current year.

Insider Transactions at Comcast

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of Comcast

Several hedge funds and other institutional investors have recently bought and sold shares of CMCSA. Fairscale Capital LLC bought a new stake in shares of Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new stake in Comcast during the 2nd quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its position in Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the period. Safe Harbor Fiduciary LLC bought a new stake in Comcast in the 3rd quarter worth $30,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.