US Bancorp DE Reduces Position in Comcast Corporation $CMCSA

Key Points

• US Bancorp DE cut its Comcast stake by 18.8% in Q4, selling 384,146 shares and leaving it with 1,661,443 shares valued at about $49.66 million.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 at an average price of $32.66 (≈$1.89 million), trimming his holding by 8.52%; insiders now own 1.32% of the stock.
• Comcast beat quarterly estimates with EPS of $0.79 vs. $0.73 and revenue of $31.46 billion, while analysts maintain a consensus "Hold" rating and an average price target of $34.94.

US Bancorp DE decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,661,443 shares of the cable giant's stock after selling 384,146 shares during the period. US Bancorp DE's holdings in Comcast were worth $49,661,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after buying an additional 2,160,829 shares during the period. State Street Corp grew its stake in shares of Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock valued at $5,677,190,000 after buying an additional 7,917,335 shares during the period. Dodge & Cox grew its stake in shares of Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant's stock valued at $3,536,884,000 after buying an additional 1,295,598 shares during the period. Capital Research Global Investors grew its stake in shares of Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock valued at $1,059,053,000 after buying an additional 10,633,206 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Comcast by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant's stock valued at $757,372,000 after buying an additional 686,520 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm's 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 directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CMCSA shares. BNP Paribas Exane dropped their price target on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research note on Wednesday, April 8th. Evercore increased 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. Royal Bank Of Canada increased their price objective on shares of Comcast from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Barclays set a $28.00 price objective on shares of Comcast and gave the stock an "equal weight" rating in a research report on Tuesday, January 13th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $34.94.

Comcast Price Performance

Shares of CMCSA opened at $27.04 on Friday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $36.66. The firm's fifty day simple moving average is $29.39 and its 200-day simple moving average is $29.00. The firm has a market capitalization of $97.29 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 2.15 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period last year, the business earned $1.09 EPS. The company's revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Comcast Corporation will post 3.58 EPS for the current fiscal year.

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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