Comcast Corporation $CMCSA Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in Comcast by 9.2% in Q4, selling 221,550 shares and leaving 2,188,591 shares valued at about $65.4 million; institutional investors and hedge funds own roughly 84.32% of the stock.
• CEO Michael J. Cavanagh sold 57,947 shares at an average price of $32.66 for about $1.89 million, reducing his ownership by 8.52%; insiders now hold approximately 1.26% of Comcast.
• Comcast beat quarterly expectations with $0.79 EPS vs. $0.73 and revenue of $31.46 billion (vs. $30.42B estimate); the stock trades near $27.64, carries a market cap of about $99.5 billion, and has an average analyst rating of Hold with a $34.94 target price.

Pictet Asset Management Holding SA trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,188,591 shares of the cable giant's stock after selling 221,550 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Comcast worth $65,417,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CMCSA. Principal Financial Group Inc. boosted its stake in Comcast by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant's stock valued at $236,810,000 after acquiring an additional 665,635 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Comcast by 75.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant's stock valued at $10,707,000 after acquiring an additional 146,339 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. Rothschild & Co Wealth Management UK Ltd raised its holdings in shares of Comcast by 1.0% during 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 purchasing an additional 113,461 shares during the period. Finally, Candriam S.C.A. raised its holdings in shares of Comcast by 3.5% during the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant's stock worth $29,917,000 after purchasing an additional 32,262 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction that occurred 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 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 the SEC website. 1.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CMCSA shares. Arete Research set a $23.00 price objective on shares of Comcast in a research report on Tuesday, January 6th. Benchmark decreased their target price on Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Monday, January 5th. Royal Bank Of Canada upped their target price on Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Scotiabank increased their price target on Comcast from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Finally, Citigroup raised their price target on Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and an average target price of $34.94.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $27.64 on Wednesday. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The stock has a market cap of $99.46 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 2.22 and a beta of 0.80. The stock's 50 day moving average price is $29.58 and its 200 day moving average price is $29.03. 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 announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Comcast Corporation will post 3.57 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.