RNC Capital Management LLC Has $38.07 Million Stock Holdings in Comcast Corporation $CMCSA

Key Points

• RNC Capital Management cut its stake in Comcast by 9.7% in Q4 and now holds 1,273,532 shares worth about $38.07 million after selling 137,478 shares.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 at an average price of $32.66, reducing his ownership by 8.52% to 622,336 shares.
• Comcast beat quarterly estimates with $0.79 EPS (vs. $0.73) and $31.46B revenue (vs. $30.42B); analysts’ consensus remains a Hold with an average price target of $34.94.

RNC Capital Management LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,273,532 shares of the cable giant's stock after selling 137,478 shares during the period. RNC Capital Management LLC's holdings in Comcast were worth $38,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Christine Messmer PC acquired a new stake in shares of Comcast during the 4th quarter valued at $411,000. Millstone Evans Group LLC boosted its holdings in shares of Comcast by 3.9% during the 4th quarter. Millstone Evans Group LLC now owns 13,071 shares of the cable giant's stock valued at $391,000 after acquiring an additional 486 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in shares of Comcast by 24.9% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 766,294 shares of the cable giant's stock valued at $22,905,000 after acquiring an additional 152,600 shares in the last quarter. Montag A & Associates Inc. boosted its position in Comcast by 187.4% during the 4th quarter. Montag A & Associates Inc. now owns 10,908 shares of the cable giant's stock worth $326,000 after buying an additional 7,112 shares during the period. Finally, CENTRAL TRUST Co boosted its position in Comcast by 1.3% during the 4th quarter. CENTRAL TRUST Co now owns 136,594 shares of the cable giant's stock worth $4,083,000 after buying an additional 1,758 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.32% of the stock is currently owned by corporate insiders.

Comcast Stock Performance

CMCSA opened at $27.07 on Tuesday. 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 company's fifty day moving average price is $29.39 and its two-hundred day moving average price is $28.99. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $36.66. The company has a market cap of $96.70 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 2.19 and a beta of 0.71.

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

Analysts Set New Price Targets

CMCSA has been the topic of several recent research reports. Bank of America upgraded shares of Comcast from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. Scotiabank lifted 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. Citigroup lifted their target price on Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a report on Friday, April 24th. Sanford C. Bernstein dropped their price target on shares of Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a research report on Thursday, January 15th. Finally, Barclays set a $28.00 price target on shares of Comcast and gave the stock an "equal weight" rating in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $34.94.

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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