Cairn Investment Group Inc. Has $3.31 Million Holdings in Comcast Corporation $CMCSA

Key Points

• Cairn Investment Group cut its stake in Comcast by 89.8% in Q4, selling 101,675 shares and retaining 11,570 shares worth $3.31 million (about 1.6% of its portfolio, its 25th largest holding).
• CEO Michael J. Cavanagh sold 57,947 Comcast shares on Feb. 11 at an average price of $32.66 for roughly $1.89 million, reducing his position by 8.52%; insiders own 1.32% of the stock.
• Comcast beat quarterly estimates with $0.79 EPS (vs. $0.73) and $31.46B revenue (vs. $30.42B); analysts' consensus is a "Hold" with a $34.94 average target price.

Cairn Investment Group Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 89.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,570 shares of the cable giant's stock after selling 101,675 shares during the quarter. Comcast comprises approximately 1.6% of Cairn Investment Group Inc.'s investment portfolio, making the stock its 25th biggest holding. Cairn Investment Group Inc.'s holdings in Comcast were worth $3,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC increased its position in Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. increased its position in Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock valued at $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank increased its position in Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant's stock valued at $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC increased its position in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after acquiring an additional 15,865 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred 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 owned 622,336 shares of the company's stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Friday, January 30th. Scotiabank raised their target price on shares of Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. 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. Bank of America raised shares of Comcast from a "neutral" rating to a "buy" rating and raised their target price for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $34.94.

Comcast Stock Up 0.5%

Shares of NASDAQ CMCSA opened at $27.17 on Friday. The firm has a market capitalization of $97.04 billion, a PE ratio of 5.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $36.66. The firm's 50-day moving average is $29.39 and its 200-day moving average is $29.00.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter last year, the firm earned $1.09 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts expect that Comcast Corporation will post 3.58 EPS 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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