Envestnet Asset Management Inc. Reduces Position in Comcast Corporation $CMCSA

Envestnet Asset Management Inc. lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.2% during the 2nd quarter, Holdings Channel reports. The firm owned 6,493,085 shares of the cable giant’s stock after selling 658,637 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Comcast were worth $231,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of CMCSA. Nuveen LLC purchased a new stake in Comcast during the 1st quarter worth approximately $940,015,000. Dodge & Cox grew its position in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Pacer Advisors Inc. grew its position in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the last quarter. Acadian Asset Management LLC grew its position in Comcast by 119.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock worth $280,238,000 after purchasing an additional 4,128,434 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Comcast by 76.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant’s stock worth $348,363,000 after purchasing an additional 4,096,382 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA opened at $29.42 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average price of $31.84 and a 200 day moving average price of $33.48. Comcast Corporation has a 1 year low of $29.15 and a 1 year high of $45.31. The stock has a market cap of $108.62 billion, a P/E ratio of 4.86, a P/E/G ratio of 1.73 and a beta of 0.94.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. UBS Group set a $43.00 price objective on shares of Comcast in a research note on Friday, October 3rd. Scotiabank restated a “sector perform” rating and set a $45.50 price objective (up from $45.00) on shares of Comcast in a research note on Monday, October 6th. Sanford C. Bernstein decreased their price objective on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Wednesday, September 10th. Finally, Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Comcast has an average rating of “Hold” and a consensus price target of $39.76.

About Comcast

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.