Buck Wealth Strategies LLC Makes New Investment in Comcast Corporation $CMCSA

Key Points

• Buck Wealth Strategies LLC opened a new position in Comcast during the fourth quarter, buying 325,187 shares worth about $9.72 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 84.32% of Comcast stock; several firms, including Vanguard, also increased their stakes.
• Comcast reported quarterly earnings of $0.79 per share, beating estimates, and revenue of $31.46 billion for the quarter, though analysts currently rate the stock a Hold on average with a consensus target of $34.94.

Buck Wealth Strategies LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 325,187 shares of the cable giant's stock, valued at approximately $9,720,000.

Several other hedge funds have also recently made changes to their positions in CMCSA. Vanguard Group Inc. grew its position in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after buying an additional 2,160,829 shares during the period. Principal Financial Group Inc. grew its position in shares of Comcast by 9.7% in the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant's stock valued at $236,810,000 after purchasing an additional 665,635 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in shares of Comcast by 75.3% in the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant's stock worth $10,707,000 after buying an additional 146,339 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd lifted its stake in shares of Comcast by 1.0% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant's stock worth $355,908,000 after buying an additional 113,461 shares in the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of Comcast by 3.5% in the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant's stock worth $29,917,000 after buying an additional 32,262 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Sanford C. Bernstein reduced their target price on shares of Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a research note on Thursday, January 15th. Royal Bank Of Canada boosted their price target on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Scotiabank lifted their price objective on shares of Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Comcast from a "buy" rating to a "hold" rating and set a $34.00 price target for the company. in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $34.94.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company's stock, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Comcast Stock Down 3.2%

Shares of Comcast stock opened at $25.39 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a one year low of $25.35 and a one year high of $36.66. The company has a market cap of $90.71 billion, a P/E ratio of 5.00, a PEG ratio of 2.11 and a beta of 0.71. The firm has a fifty day moving average of $29.08 and a two-hundred day moving average of $28.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. During the same period in the prior year, the company posted $1.09 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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