Sequoia Financial Advisors LLC Purchases 104,483 Shares of Comcast Corporation $CMCSA

Key Points

• Sequoia Financial Advisors LLC raised its stake in Comcast by 23.9%, buying 104,483 shares to hold 542,082 shares valued at about $16.2 million at quarter end.
• Comcast beat Q1 estimates, reporting $0.79 EPS versus $0.73 expected and revenue of $31.46 billion (vs. $30.42 billion), with revenue up 5.3% year-over-year and analysts forecasting ~3.58 EPS for the fiscal year.
• Institutional investors own about 84.32% of Comcast; the consensus analyst rating is "Hold" with an average price target of $34.94, while corporate insiders hold 1.40% and the CEO sold 57,947 shares in February.

Sequoia Financial Advisors LLC increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 542,082 shares of the cable giant's stock after purchasing an additional 104,483 shares during the period. Sequoia Financial Advisors LLC's holdings in Comcast were worth $16,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Encompass More Asset Management grew its position in Comcast by 20.9% in the fourth quarter. Encompass More Asset Management now owns 19,430 shares of the cable giant's stock valued at $581,000 after acquiring an additional 3,362 shares during the period. Manske Wealth Management grew its position in Comcast by 35.1% in the fourth quarter. Manske Wealth Management now owns 47,879 shares of the cable giant's stock valued at $1,431,000 after acquiring an additional 12,429 shares during the period. Indivisible Partners bought a new stake in Comcast in the fourth quarter valued at $207,000. Swedbank AB grew its position in Comcast by 5.8% in the fourth quarter. Swedbank AB now owns 2,490,605 shares of the cable giant's stock valued at $74,444,000 after acquiring an additional 136,033 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Comcast by 4.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,028,622 shares of the cable giant's stock valued at $237,165,000 after acquiring an additional 353,965 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

Comcast stock opened at $26.24 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. The firm has a market cap of $93.74 billion, a P/E ratio of 5.17, a P/E/G ratio of 2.13 and a beta of 0.71. The business's fifty day moving average is $29.08 and its two-hundred day moving average is $28.93. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data 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 company 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%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts forecast that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction 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 transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

CMCSA has been the topic of a number of analyst reports. Scotiabank upped their price target on Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Wall Street Zen upgraded Comcast to a "hold" rating in a research report on Saturday, March 14th. UBS Group lowered their price target on Comcast from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $29.00 price target on shares of Comcast in a research report on Thursday, April 23rd. Finally, Morgan Stanley upped their price target on Comcast from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $34.94.

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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