Strs Ohio Decreases Holdings in Comcast Corporation $CMCSA

Key Points

• STRS Ohio trimmed its stake in Comcast (CMCSA) by 2.0%, selling 44,313 shares and leaving it with 2,173,257 shares valued at about $64.96 million.
• Comcast beat the quarter with $0.79 EPS vs. $0.73 expected and $31.46 billion in revenue versus $30.42 billion estimated; analysts maintain a consensus rating of Hold with a $34.94 target price.
• CEO Michael J. Cavanagh sold 57,947 shares at an average price of $32.66 (reducing his ownership by 8.52%), and insiders now own about 1.32% of the company.

Strs Ohio decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,173,257 shares of the cable giant's stock after selling 44,313 shares during the period. Strs Ohio owned 0.06% of Comcast worth $64,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. Imprint Wealth LLC purchased a new stake in Comcast during the third quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in Comcast during the third quarter valued at approximately $28,000. Olistico Wealth LLC purchased a new stake in Comcast during the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. increased its stake in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock valued at $30,000 after purchasing an additional 691 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new position in Comcast during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CMCSA shares. Pivotal Research lowered shares of Comcast from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. The Goldman Sachs Group restated a "neutral" rating and set a $29.00 price target on shares of Comcast in a research note on Thursday, April 23rd. Evercore upped their price target on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Zacks Research upgraded shares of Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Citigroup upped their price target on shares of Comcast from $33.00 to $35.50 and gave the company a "buy" rating in a research note on Friday, April 24th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.94.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is owned by insiders.

Comcast Stock Up 0.5%

NASDAQ:CMCSA opened at $27.17 on Friday. The firm has a market capitalization of $97.74 billion, a P/E ratio of 5.35, a PEG ratio of 2.17 and a beta of 0.80. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $36.66. The company's fifty day moving average price is $29.39 and its 200-day moving average price is $29.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, equities research 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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