GC Wealth Management RIA LLC Sells 52,202 Shares of Comcast Corporation $CMCSA

Key Points

• GC Wealth Management RIA LLC sold 52,202 shares in Q4, cutting its Comcast stake by 87.0% to 7,799 shares valued at $233,000 at the end of the quarter.
• Comcast CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 for about $1.89 million, reducing his position by 8.52% to 622,336 shares.
• Comcast beat quarterly estimates with EPS of $0.79 (vs. $0.73 expected) and revenue of $31.46 billion (vs. $30.42 billion expected); analysts maintain a consensus "Hold" rating with a $34.94 target.

GC Wealth Management RIA LLC lowered its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 87.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,799 shares of the cable giant's stock after selling 52,202 shares during the quarter. GC Wealth Management RIA LLC's holdings in Comcast were worth $233,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CMCSA. Brighton Jones LLC boosted its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. raised its holdings 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 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 purchasing an additional 4,290 shares during the period. HUB Investment Partners LLC boosted its stake in shares of Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after purchasing an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in shares of 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 in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Comcast 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 transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 1.32% of the company's stock.

Comcast Stock Up 0.5%

Comcast stock opened at $27.17 on Friday. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The stock has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $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 firm has a market cap of $97.04 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 2.19 and a beta of 0.71.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the company posted $1.09 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CMCSA shares. UBS Group decreased their price target on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Friday, January 30th. Wall Street Zen raised Comcast to a "hold" rating in a research report on Saturday, March 14th. Scotiabank upped their target price on Comcast from $34.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. KeyCorp reissued a "sector weight" rating on shares of Comcast in a research report on Thursday, April 23rd. Finally, TD Cowen dropped their price target on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Eight 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.94.

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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