Blume Capital Management Inc. Has $10.60 Million Position in Comcast Corporation $CMCSA

Key Points

• Blume Capital Management Inc. increased its stake in Comcast Corporation by 11.8%, owning 296,865 shares valued at approximately $10.60 million, making it the firm's 17th largest holding.
• Several other investment firms also raised their stakes in Comcast, with notable increases from Cranbrook Wealth Management and Global Trust Asset Management, indicating growing institutional interest in the stock.
• Analysts have mixed ratings for Comcast, with a consensus target price of $39.76; notable changes include a price downgrade from Bank of America and a target increase from Moffett Nathanson.

Blume Capital Management Inc. increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,865 shares of the cable giant's stock after acquiring an additional 31,268 shares during the period. Comcast comprises 2.1% of Blume Capital Management Inc.'s holdings, making the stock its 17th largest holding. Blume Capital Management Inc.'s holdings in Comcast were worth $10,595,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC raised its holdings in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC grew its position in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares during the last quarter. Abound Financial LLC acquired a new position in Comcast during the first quarter worth about $29,000. Ransom Advisory Ltd bought a new position in shares of Comcast in the first quarter worth about $29,000. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Comcast by 403.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant's stock valued at $31,000 after purchasing an additional 686 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CMCSA shares. Bank of America lowered their price objective on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. Sanford C. Bernstein lowered their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. Moffett Nathanson increased their price target on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Weiss Ratings restated a "hold (c-)" rating on shares of Comcast in a research report on Tuesday, October 14th. Finally, KeyCorp lowered their target price on Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.76.

Comcast Price Performance

Shares of CMCSA opened at $29.97 on Wednesday. The business's fifty day moving average is $32.15 and its 200 day moving average is $33.61. Comcast Corporation has a 12-month low of $29.15 and a 12-month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $110.66 billion, a P/E ratio of 4.95, a P/E/G ratio of 1.75 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.34 billion for the quarter. Sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

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.

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