Comcast Corporation $CMCSA Shares Sold by Caisse Des Depots ET Consignations

Key Points

• Caisse Des Depots ET Consignations cut its Comcast stake by 86.8% in Q4, selling 153,517 shares and retaining 23,428 shares valued at about $700,000.
• Comcast beat quarterly expectations with EPS of $0.79 vs. $0.73 and revenue of $31.46B vs. $30.42B, with revenue up 5.3% year-over-year and analysts projecting ~3.58 EPS for the year.
• CEO Michael J. Cavanagh sold 57,947 shares for roughly $1.89M (an 8.52% reduction), while institutional investors own 84.32% of the stock and the consensus analyst rating is Hold with a $34.94 target.

Caisse Des Depots ET Consignations cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 86.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,428 shares of the cable giant's stock after selling 153,517 shares during the period. Caisse Des Depots ET Consignations' holdings in Comcast were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CMCSA. Brighton Jones LLC grew its position in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its position 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 grew its position in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after acquiring an additional 4,290 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of Comcast by 119.4% during the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock worth $606,000 after acquiring an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock worth $1,414,000 after acquiring an additional 15,865 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

NASDAQ:CMCSA opened at $27.17 on Friday. The firm's fifty day moving average price is $29.39 and its 200 day moving average price is $29.00. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $97.04 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMCSA. Wall Street Zen upgraded shares of Comcast to a "hold" rating in a research report on Saturday, March 14th. Rosenblatt Securities restated a "neutral" rating and set a $30.00 target price on shares of Comcast in a research report on Friday, January 30th. TD Cowen lowered their price objective on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Barclays set a $28.00 price objective on shares of Comcast and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. Finally, 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 research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $34.94.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were 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 in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.32% of the stock is owned by corporate insiders.

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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