BIP Wealth LLC Cuts Holdings in Comcast Corporation $CMCSA

BIP Wealth LLC decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,455 shares of the cable giant’s stock after selling 2,765 shares during the period. BIP Wealth LLC’s holdings in Comcast were worth $230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox raised its position in Comcast by 19.1% in the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 926,663 shares during the period. Nuveen LLC purchased a new position in shares of Comcast during the first quarter valued at approximately $940,015,000. Harris Associates L P lifted its position in Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock valued at $759,938,000 after purchasing an additional 111,662 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings 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. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.1%

NASDAQ CMCSA opened at $29.28 on Friday. Comcast Corporation has a 52 week low of $29.15 and a 52 week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $108.11 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. The stock’s 50-day moving average price is $31.92 and its 200-day moving average price is $33.53.

Comcast (NASDAQ:CMCSA) last released its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.34 billion during the quarter. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research report on Tuesday, October 14th. Rosenblatt Securities dropped their target price on Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, KeyCorp dropped their price objective on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $39.76.

Comcast Company 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.