RNC Capital Management LLC Lowers Position in Comcast Corporation $CMCSA

RNC Capital Management LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,116,485 shares of the cable giant's stock after selling 12,694 shares during the quarter. Comcast makes up about 1.9% of RNC Capital Management LLC's investment portfolio, making the stock its 25th largest position. RNC Capital Management LLC's holdings in Comcast were worth $39,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Dodge & Cox lifted its holdings in shares of Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Comcast by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after purchasing an additional 926,663 shares during the last quarter. Nuveen LLC bought a new stake in Comcast in the first quarter worth $940,015,000. Harris Associates L P increased its position in Comcast by 0.5% in the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant's stock worth $759,938,000 after purchasing an additional 111,662 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock worth $746,980,000 after purchasing an additional 427,705 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CMCSA shares. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, September 12th. UBS Group set a $43.00 price objective on shares of Comcast in a research report on Friday, October 3rd. Rosenblatt Securities cut their price objective on shares of Comcast from $38.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, October 17th. Finally, Barclays cut their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.76.

Comcast Trading Down 1.9%

NASDAQ CMCSA opened at $29.40 on Thursday. The company's 50-day moving average price is $32.08 and its 200-day moving average price is $33.58. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $108.55 billion, a PE ratio of 4.86, a PEG ratio of 1.77 and a beta of 0.94. Comcast Corporation has a 12 month low of $29.15 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

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