Comcast Corporation $CMCSA Shares Sold by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management reduced its stake in Comcast by 9.9% in Q4, selling 101,253 shares and leaving 921,532 shares valued at $27.545 million per its SEC filing.
• Comcast beat estimates for the quarter, reporting $0.79 EPS versus $0.73 expected and revenue of $31.46 billion (vs. $30.42 billion), with revenue up 5.3% year‑over‑year.
• CEO Michael J. Cavanagh sold 57,947 shares for about $1.89 million (an 8.52% reduction in his holdings); institutional investors own 84.32% of the stock and analysts’ consensus rating is Hold with a $34.94 target.

Oppenheimer Asset Management Inc. lowered its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 921,532 shares of the cable giant's stock after selling 101,253 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Comcast were worth $27,545,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. grew its position in shares of Comcast by 3.2% in the 2nd 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 in the last quarter. United Bank grew its position in shares of Comcast by 11.3% in the 2nd 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 in the last quarter. HUB Investment Partners LLC grew 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 worth $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its position in Comcast by 66.8% during 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 period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Up 1.0%

Shares of Comcast stock opened at $27.04 on Friday. 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 business's fifty day moving average price is $29.39 and its two-hundred day moving average price is $29.00. The company has a market capitalization of $97.29 billion, a P/E ratio of 5.32, a PEG ratio of 2.15 and a beta of 0.80.

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

Analyst Ratings Changes

A number of research firms recently issued reports on CMCSA. Barclays set a $28.00 price objective on Comcast and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. The Goldman Sachs Group restated a "neutral" rating and set a $29.00 price objective on shares of Comcast in a research report on Thursday, April 23rd. Pivotal Research lowered Comcast from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 30th. BNP Paribas Exane reduced their price objective on Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research report on Wednesday, April 8th. Finally, Benchmark reduced their price objective on Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, January 5th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.94.

Insider Buying and Selling

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company's stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is currently owned by corporate insiders.

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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