Private Management Group Inc. Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Private Management Group Inc. reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 814,544 shares of the cable giant’s stock after selling 7,500 shares during the quarter. Comcast accounts for 1.4% of Private Management Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Private Management Group Inc.’s holdings in Comcast were worth $35,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Greenwich Wealth Management LLC boosted its holdings in Comcast by 2.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after purchasing an additional 219 shares during the last quarter. Legend Financial Advisors Inc. boosted its holdings in Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after purchasing an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. boosted its holdings in Comcast by 1.6% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after purchasing an additional 226 shares during the last quarter. Keystone Financial Services boosted its holdings in Comcast by 1.1% in the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after purchasing an additional 229 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in Comcast by 0.7% in the third quarter. Capital Investment Advisors LLC now owns 34,950 shares of the cable giant’s stock valued at $1,550,000 after purchasing an additional 238 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Comcast

In related news, President Michael J. Cavanagh sold 114,749 shares of Comcast stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Comcast Stock Down 0.5 %

Shares of CMCSA stock traded down $0.21 on Tuesday, reaching $40.36. 15,322,636 shares of the company’s stock traded hands, compared to its average volume of 20,645,980. Comcast Co. has a 12-month low of $36.38 and a 12-month high of $47.46. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $160.30 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 0.98 and a beta of 0.98. The business’s 50 day moving average price is $41.75 and its two-hundred day moving average price is $42.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The business had revenue of $31.25 billion for the quarter, compared to the consensus estimate of $30.41 billion. On average, equities analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMCSA. Citigroup upped their price objective on Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 10th. Evercore ISI reiterated an “outperform” rating and set a $50.00 price target on shares of Comcast in a research report on Tuesday, March 26th. Wells Fargo & Company dropped their price target on Comcast from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Finally, StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and an average price target of $49.74.

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.