GRIMES & Co WEALTH MANAGEMENT LLC Sells 56,383 Shares of Comcast Corporation $CMCSA

Key Points

• GRIMES & Co Wealth Management cut its Comcast stake by 29% in the fourth quarter, selling 56,383 shares and leaving it with 138,182 shares worth about $4.13 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 84.32% of Comcast’s stock, while Comcast CEO Michael J. Cavanagh also sold 57,947 shares in February.
• Analyst sentiment is mixed: Comcast carries an average Hold rating and a consensus price target of $34.94, even as the company recently beat quarterly EPS and revenue estimates.

GRIMES & Co WEALTH MANAGEMENT LLC decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,182 shares of the cable giant's stock after selling 56,383 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Comcast were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Cora Capital Advisors LLC lifted its position in Comcast by 3.4% in the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock worth $329,000 after buying an additional 362 shares during the last quarter. FSA Advisors Inc. lifted its position in Comcast by 5.5% in the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant's stock worth $226,000 after buying an additional 376 shares during the last quarter. Oakworth Capital Inc. lifted its position in Comcast by 7.4% in the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant's stock worth $164,000 after buying an additional 377 shares during the last quarter. WPG Advisers LLC lifted its position in Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock worth $84,000 after buying an additional 384 shares during the last quarter. Finally, First National Trust Co lifted its position in Comcast by 0.8% in the 3rd quarter. First National Trust Co now owns 47,047 shares of the cable giant's stock worth $1,478,000 after buying an additional 387 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. KeyCorp reaffirmed a "sector weight" rating on shares of Comcast in a research note on Thursday, April 23rd. Barclays set a $28.00 price target on Comcast and gave the stock an "equal weight" rating in a research note on Tuesday, January 13th. BNP Paribas Exane decreased their price target on Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 8th. Citigroup lifted their price target on Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a research note on Friday, April 24th. Finally, Pivotal Research cut Comcast from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus target price of $34.94.

Insider Activity

In other 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 transaction, the chief executive officer directly owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company's stock.

Comcast Price Performance

CMCSA opened at $25.39 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 52-week low of $25.35 and a 52-week high of $36.66. The stock has a market capitalization of $90.71 billion, a PE ratio of 5.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The stock's 50 day moving average price is $29.08 and its 200-day moving average price is $28.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted 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. 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 period in the previous year, the firm earned $1.09 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corporation will post 3.58 EPS for the current 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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