Investment Management Associates Inc. ADV Has $16.69 Million Position in Comcast Corporation $CMCSA

Key Points

• Investment Management Associates Inc. ADV increased its Comcast stake by 65.3% in the fourth quarter, ending with 558,367 shares valued at about $16.69 million. Comcast now represents roughly 4.6% of the firm’s portfolio and is its 10th-largest holding.
• Wall Street sentiment on Comcast remains mixed: analysts have an average rating of “Hold” with a price target of $34.94. Recent actions included downgrades from Pivotal Research and UBS, while Bank of America upgraded the stock to Buy.
• Comcast recently 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. Despite the beat, CEO Michael J. Cavanagh sold 57,947 shares in February, and the stock has been trading near its 52-week low.

Investment Management Associates Inc. ADV boosted its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 65.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,367 shares of the cable giant's stock after buying an additional 220,668 shares during the period. Comcast makes up approximately 4.6% of Investment Management Associates Inc. ADV's portfolio, making the stock its 10th biggest position. Investment Management Associates Inc. ADV's holdings in Comcast were worth $16,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of Comcast in the 3rd quarter worth about $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the 3rd quarter worth about $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast in the 4th quarter worth about $29,000. Richardson Financial Services Inc. raised its holdings in shares of Comcast by 212.6% in the 4th 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 during the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Comcast in the 4th quarter worth about $33,000. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMCSA. Pivotal Research lowered shares of Comcast from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. UBS Group lowered their target price on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, January 30th. Wall Street Zen upgraded shares of Comcast to a "hold" rating in a report on Saturday, March 14th. Bank of America upgraded shares of Comcast from a "neutral" rating to a "buy" rating and upped their target price for the stock from $31.00 to $37.00 in a report on Monday, January 12th. Finally, TD Cowen lowered their target price on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $34.94.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction 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 sale, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Comcast Stock Performance

Shares of Comcast stock opened at $25.39 on Friday. The business's fifty day simple moving average is $29.08 and its 200 day simple moving average is $28.93. The firm has a market capitalization of $90.71 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Comcast Corporation has a 12 month low of $25.35 and a 12 month high of $36.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly 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 business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. As a group, analysts anticipate that Comcast Corporation will post 3.58 EPS for the current year.

Comcast Company 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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