Cresset Asset Management LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)

Cresset Asset Management LLC lowered its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 69.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 220,376 shares of the cable giant's stock after selling 507,842 shares during the period. Cresset Asset Management LLC's holdings in Comcast were worth $8,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Raymond James Financial Inc. purchased a new stake in shares of Comcast in the 4th quarter worth approximately $743,681,000. Bfsg LLC grew its position in Comcast by 752.8% during the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant's stock valued at $3,129,000 after purchasing an additional 73,590 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Comcast by 8.3% during the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant's stock valued at $1,633,000 after acquiring an additional 3,344 shares in the last quarter. Robinson Value Management Ltd. raised its stake in shares of Comcast by 136.7% in the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant's stock worth $3,842,000 after purchasing an additional 59,107 shares during the last quarter. Finally, Private Management Group Inc. raised its position in Comcast by 3.0% in the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant's stock worth $32,118,000 after buying an additional 24,827 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Up 0.1 %

NASDAQ CMCSA traded up $0.03 during trading hours on Friday, hitting $34.25. 16,916,562 shares of the company were exchanged, compared to its average volume of 21,898,385. The stock has a market cap of $127.88 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31. The stock has a 50-day moving average price of $35.01 and a 200 day moving average price of $37.54. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Comcast's revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. Analysts forecast that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CMCSA shares. Benchmark lowered their price target on Comcast from $57.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Scotiabank restated a "sector perform" rating and set a $44.50 target price (down previously from $45.00) on shares of Comcast in a research note on Friday, April 25th. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. BNP Paribas downgraded shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective on the stock. in a research report on Thursday, April 10th. Finally, Bank of America downgraded shares of Comcast from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $38.00 in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast 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.