Motco Cuts Position in Comcast Corporation $CMCSA

Motco cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 63.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,498 shares of the cable giant’s stock after selling 215,087 shares during the period. Motco’s holdings in Comcast were worth $4,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox lifted its stake in Comcast by 19.1% in the first 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. Charles Schwab Investment Management Inc. lifted its stake in 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 purchasing an additional 926,663 shares during the last quarter. Nuveen LLC bought a new stake in Comcast in the first quarter worth $940,015,000. Harris Associates L P lifted its stake in Comcast by 0.5% in the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after purchasing an additional 111,662 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CMCSA shares. KeyCorp lowered their price target on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. Barclays lowered their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Benchmark reaffirmed a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Finally, Sanford C. Bernstein lowered 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.52.

Comcast Price Performance

CMCSA stock opened at $29.28 on Wednesday. Comcast Corporation has a 1 year low of $29.13 and a 1 year high of $45.31. The company has a market cap of $108.11 billion, a P/E ratio of 4.84, a PEG ratio of 1.74 and a beta of 0.94. The firm has a 50-day moving average of $31.75 and a 200 day moving average of $33.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA) last released its quarterly 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, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

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.