Private Advisor Group LLC Lowers Stock Position in Comcast Co. (NASDAQ:CMCSA)

Private Advisor Group LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 14.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367,881 shares of the cable giant’s stock after selling 60,736 shares during the quarter. Private Advisor Group LLC’s holdings in Comcast were worth $15,366,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CMCSA. Fairscale Capital LLC purchased a new stake in shares of Comcast during the second quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in Comcast during the second quarter valued at approximately $27,000. IAG Wealth Partners LLC lifted its position in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its stake in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 570 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CMCSA shares. Pivotal Research lowered their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. KeyCorp lowered their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Scotiabank upped their price target on shares of Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Evercore ISI lowered their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Barclays dropped their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $45.58.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $41.55 on Thursday. The stock has a market capitalization of $163.03 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The firm has a 50-day simple moving average of $40.44 and a 200-day simple moving average of $39.45.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

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.