Crossmark Global Holdings Inc. Buys 381,644 Shares of Comcast Corporation $CMCSA

Key Points

• Crossmark Global Holdings boosted its Comcast stake by 39.1% in the fourth quarter, buying 381,644 additional shares to bring its total to 1,357,854 shares valued at about $40.6 million.
• Comcast CEO Michael J. Cavanagh sold 57,947 shares in February for roughly $1.89 million, trimming his direct holdings by 8.52%. Insiders now own about 1.40% of the stock.
• Comcast reported better-than-expected quarterly results, posting EPS of $0.79 versus estimates of $0.73 and revenue of $31.46 billion versus $30.42 billion expected, though the stock was trading near its 52-week low at $25.39.

Crossmark Global Holdings Inc. increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 39.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,357,854 shares of the cable giant's stock after buying an additional 381,644 shares during the period. Comcast accounts for 0.6% of Crossmark Global Holdings Inc.'s holdings, making the stock its 27th biggest holding. Crossmark Global Holdings Inc.'s holdings in Comcast were worth $40,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Imprint Wealth LLC acquired a new position in Comcast in the third quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the 3rd quarter valued at $28,000. Olistico Wealth LLC acquired a new position in shares of Comcast during the 4th quarter valued at $29,000. Richardson Financial Services Inc. boosted its stake in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock worth $30,000 after acquiring an additional 691 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Comcast in the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the 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 completion of the transaction, the chief executive officer directly owned 622,336 shares of the company's stock, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMCSA has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a "neutral" rating and set a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. TD Cowen reduced their price objective on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, January 30th. KeyCorp reaffirmed a "sector weight" rating on shares of Comcast in a research report on Thursday, April 23rd. Morgan Stanley lifted their price target on shares of Comcast from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. Finally, Zacks Research upgraded shares of Comcast from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $34.94.

Comcast Stock Down 3.2%

CMCSA stock opened at $25.39 on Friday. The stock has a market cap of $90.71 billion, a P/E ratio of 5.00, a P/E/G ratio of 2.11 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. The stock's fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $28.93. Comcast Corporation has a 1-year low of $25.35 and a 1-year high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. 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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