MainStreet Investment Advisors LLC Makes New $2.89 Million Investment in Comcast Co. (NASDAQ:CMCSA)

MainStreet Investment Advisors LLC purchased a new position in Comcast Co. (NASDAQ:CMCSA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 77,114 shares of the cable giant’s stock, valued at approximately $2,894,000.

Several other institutional investors have also modified their holdings of CMCSA. Norges Bank purchased a new position in Comcast in the fourth quarter valued at $3,835,226,000. Raymond James Financial Inc. purchased a new position in Comcast in the fourth quarter valued at $743,681,000. Amundi increased its holdings in Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after buying an additional 14,369,056 shares during the last quarter. Capital World Investors increased its holdings in Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after buying an additional 11,255,683 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after buying an additional 5,402,377 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the topic of several recent analyst reports. UBS Group set a $44.50 target price on Comcast in a report on Friday, April 25th. The Goldman Sachs Group dropped their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Scotiabank reissued a “sector perform” rating and issued a $44.50 target price (down previously from $45.00) on shares of Comcast in a report on Friday, April 25th. Barclays decreased their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.10.

Comcast Price Performance

Shares of CMCSA opened at $34.79 on Wednesday. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a market capitalization of $129.90 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The firm has a 50-day simple moving average of $34.96 and a 200-day simple moving average of $37.44. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 earnings per share. On average, equities research analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current year.

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.