Kestra Private Wealth Services LLC Lowers Stock Position in Comcast Corporation $CMCSA

Key Points

• Kestra Private Wealth Services LLC reduced its Comcast stake by 40% in Q4, selling 42,231 shares and retaining 63,258 shares valued at about $1.89 million.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 at an average price of $32.66 (≈$1.89M), trimming his holding by 8.52%.
• Comcast beat quarterly estimates (EPS $0.79 vs. $0.73; revenue $31.46B vs. $30.42B), but the stock trades near $27 while analysts maintain a consensus "Hold" and an average price target of $34.94.

Kestra Private Wealth Services LLC lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,258 shares of the cable giant's stock after selling 42,231 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Comcast were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cora Capital Advisors LLC boosted its stake in shares of Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock worth $329,000 after acquiring an additional 362 shares in the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of Comcast by 4.6% during the 3rd quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant's stock worth $265,000 after acquiring an additional 372 shares in the last quarter. FSA Advisors Inc. boosted its stake in shares of Comcast by 5.5% during the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant's stock worth $226,000 after acquiring an additional 376 shares in the last quarter. WPG Advisers LLC boosted its stake in shares of Comcast by 15.9% during the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock worth $84,000 after acquiring an additional 384 shares in the last quarter. Finally, First National Trust Co boosted its stake in shares of Comcast by 0.8% during the 3rd quarter. First National Trust Co now owns 47,047 shares of the cable giant's stock worth $1,478,000 after acquiring an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Insider Transactions at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company'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 value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMCSA. Royal Bank Of Canada boosted their price target on Comcast from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Arete Research set a $23.00 price target on Comcast in a research note on Tuesday, January 6th. The Goldman Sachs Group reissued a "neutral" rating and set a $29.00 price target on shares of Comcast in a research note on Thursday, April 23rd. Morgan Stanley boosted their price target on Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. Finally, Sanford C. Bernstein reduced their target price on Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a research note on Thursday, January 15th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.94.

Comcast Price Performance

CMCSA stock opened at $27.04 on Friday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock's 50 day moving average price is $29.39 and its 200 day moving average price is $29.00. The firm has a market cap of $97.29 billion, a P/E ratio of 5.32, a PEG ratio of 2.15 and a beta of 0.80.

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 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 analyst estimates of $30.42 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Comcast's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Comcast Corporation will post 3.58 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.