Comcast Corporation $CMCSA Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its Comcast stake by 39.6%, selling 73,751 shares in Q4 and leaving 112,642 shares valued at about $3.37 million.
• Comcast topped expectations for the quarter with EPS of $0.79 (vs. $0.73 est.) and revenue of $31.46 billion (vs. $30.42 billion), while CEO Michael Cavanagh sold 57,947 shares, an 8.52% reduction in his holdings.
• The stock trades at a low valuation (market cap ~$94.5B; P/E 5.21), was down ~2.3% on the day, and carries a consensus "Hold" rating with an average price target of $34.94 amid some analyst upgrades.

Benjamin Edwards Inc. reduced its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,642 shares of the cable giant's stock after selling 73,751 shares during the quarter. Benjamin Edwards Inc.'s holdings in Comcast were worth $3,367,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after buying an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its stake in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after acquiring an additional 2,593 shares during the last quarter. United Bank increased its holdings in shares of Comcast by 11.3% during the second 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 raised its position in shares of 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 purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of 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 purchasing an additional 15,865 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Down 2.3%

CMCSA stock opened at $26.46 on Wednesday. The company has a market capitalization of $94.52 billion, a P/E ratio of 5.21, a price-to-earnings-growth ratio of 2.18 and a beta of 0.71. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The firm's fifty day simple moving average is $29.29 and its 200-day simple moving average is $28.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

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, topping 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 firm had revenue of $31.46 billion during the quarter, compared to analysts' expectations of $30.42 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Comcast Corporation will post 3.58 earnings per share for the current year.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company's stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CMCSA shares. Bank of America raised shares of Comcast from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a research note on Thursday, April 23rd. Evercore boosted their price objective on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Barclays set a $28.00 target price on Comcast and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $34.94.

About Comcast

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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