Wealthfront Advisers LLC Has $4.50 Million Stock Position in Comcast Corporation $CMCSA

Key Points

• Wealthfront Advisers LLC cut its Comcast stake by 29.9%, selling 64,050 shares and leaving it with 150,459 shares valued at about $4.50 million at the end of the quarter.
• CEO Michael J. Cavanagh sold 57,947 shares at an average price of $32.66 for roughly $1.89 million, an 8.52% reduction in his personal holding to 622,336 shares.
• Comcast beat quarterly expectations, reporting EPS of $0.79 vs. $0.73 and revenue of $31.46 billion (up 5.3% year-over-year), while analysts maintain a consensus "Hold" rating with a $34.94 price target.

Wealthfront Advisers LLC lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,459 shares of the cable giant's stock after selling 64,050 shares during the quarter. Wealthfront Advisers LLC's holdings in Comcast were worth $4,497,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Cora Capital Advisors LLC boosted its position in Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock worth $329,000 after acquiring an additional 362 shares during the last quarter. Commonwealth Financial Services LLC boosted its position in Comcast by 4.6% during the 3rd quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant's stock worth $265,000 after acquiring an additional 372 shares during the last quarter. FSA Advisors Inc. boosted its position in Comcast by 5.5% during the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant's stock worth $226,000 after acquiring an additional 376 shares during the last quarter. WPG Advisers LLC boosted its position in Comcast by 15.9% during the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock worth $84,000 after acquiring an additional 384 shares during the last quarter. Finally, First National Trust Co boosted its position in Comcast by 0.8% during the 3rd quarter. First National Trust Co now owns 47,047 shares of the cable giant's stock worth $1,478,000 after acquiring an additional 387 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Insider Transactions at Comcast

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen cut their price objective on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, January 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Comcast in a report on Wednesday, April 8th. Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Rosenblatt Securities reissued a "neutral" rating and issued a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Finally, KeyCorp reissued a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.94.

Comcast Trading Up 1.0%

Shares of Comcast stock opened at $27.04 on Friday. The business has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $29.00. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $36.66. The company has a market capitalization of $97.29 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 2.15 and a beta of 0.80. 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 announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter last year, the firm posted $1.09 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. Research analysts forecast 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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