Ethic Inc. Sells 26,642 Shares of Comcast Corporation $CMCSA

Key Points

• Ethic Inc. has decreased its holdings in Comcast Corporation by 5.9%, now owning 426,136 shares valued at approximately $15.05 million.
• Various institutional investors have made significant adjustments to their Comcast positions, with Cranbrook Wealth Management increasing its stake by 86% during the same period.
• Wall Street analysts remain cautiously optimistic about Comcast, assigning an average rating of "Hold" with a price target of $39.76.

Ethic Inc. reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 426,136 shares of the cable giant's stock after selling 26,642 shares during the period. Ethic Inc.'s holdings in Comcast were worth $15,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CMCSA. Cranbrook Wealth Management LLC increased its position in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC grew its holdings in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after buying an additional 671 shares in the last quarter. Abound Financial LLC bought a new stake in Comcast in the 1st quarter valued at $29,000. Ransom Advisory Ltd bought a new stake in shares of Comcast in the first quarter worth about $29,000. Finally, Princeton Global Asset Management LLC boosted its stake in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant's stock valued at $31,000 after buying an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Barclays reduced their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Loop Capital reduced their price objective on Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley set a $35.00 price objective on Comcast and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group cut their target price on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and an average price target of $39.76.

Comcast Trading Down 0.2%

Shares of CMCSA stock opened at $29.90 on Wednesday. The stock has a 50 day simple moving average of $32.15 and a 200-day simple moving average of $33.61. Comcast Corporation has a 1-year low of $29.15 and a 1-year high of $45.31. The company has a market cap of $110.39 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 1.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. On average, equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

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