Fifth Third Bancorp Sells 123,018 Shares of Comcast Corporation $CMCSA

Key Points

• Fifth Third Bancorp cut its position in Comcast by 19.1%, selling 123,018 shares and leaving it with 521,037 shares valued at about $15.57 million at quarter-end.
• CEO Michael J. Cavanagh sold 57,947 shares for roughly $1.89 million, reducing his holding by 8.52% to 622,336 shares; insiders own about 1.32% of the company.
• Comcast beat quarterly estimates with $0.79 EPS (vs. $0.73) and $31.46B revenue, but analyst coverage is mixed—average rating is Hold with a $34.94 average price target.

Fifth Third Bancorp lowered its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 521,037 shares of the cable giant's stock after selling 123,018 shares during the period. Fifth Third Bancorp's holdings in Comcast were worth $15,574,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. lifted its stake in 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 purchasing an additional 2,593 shares in the last quarter. United Bank lifted its stake in 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 purchasing an additional 4,290 shares in the last quarter. HUB Investment Partners LLC lifted its stake in 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 purchasing an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock worth $1,414,000 after purchasing an additional 15,865 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the topic of several research analyst reports. BNP Paribas Exane decreased their price target on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 8th. KeyCorp reiterated a "sector weight" rating on shares of Comcast in a research note on Thursday, April 23rd. Morgan Stanley boosted their price target on shares of Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a "buy" rating to a "hold" rating and set a $34.00 price target on the stock. in a research note on Friday, April 24th. Finally, Zacks Research upgraded shares of Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $34.94.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.32% of the company's stock.

Comcast Stock Up 0.5%

Shares of NASDAQ CMCSA opened at $27.17 on Friday. The firm's 50-day moving average price is $29.39 and its 200-day moving average price is $29.00. 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 has a market capitalization of $97.74 billion, a price-to-earnings ratio of 5.35, a P/E/G ratio of 2.17 and a beta of 0.80. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. On average, equities research analysts anticipate that Comcast Corporation will post 3.58 EPS for the current fiscal year.

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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