Intact Investment Management Inc. Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

Intact Investment Management Inc. lowered its position in Comcast Co. (NASDAQ:CMCSA) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,900 shares of the cable giant’s stock after selling 2,500 shares during the quarter. Intact Investment Management Inc.’s holdings in Comcast were worth $7,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Connecticut Wealth Management LLC bought a new position in shares of Comcast during the third quarter valued at approximately $205,000. Oak Harbor Wealth Partners LLC raised its holdings in shares of Comcast by 4.2% during the third quarter. Oak Harbor Wealth Partners LLC now owns 39,124 shares of the cable giant’s stock valued at $1,735,000 after acquiring an additional 1,586 shares in the last quarter. First Personal Financial Services bought a new position in Comcast in the third quarter worth $39,000. Ropes Wealth Advisors LLC raised its holdings in Comcast by 11.9% in the third quarter. Ropes Wealth Advisors LLC now owns 23,473 shares of the cable giant’s stock worth $1,041,000 after purchasing an additional 2,488 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its holdings in Comcast by 0.4% in the third quarter. Campbell Newman Asset Management Inc. now owns 566,200 shares of the cable giant’s stock worth $25,105,000 after purchasing an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Comcast stock traded up $0.70 during midday trading on Friday, hitting $38.57. 29,783,241 shares of the company were exchanged, compared to its average volume of 21,514,964. The firm has a market capitalization of $153.19 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The business has a fifty day simple moving average of $41.58 and a two-hundred day simple moving average of $42.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. Comcast’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

Analyst Ratings Changes

CMCSA has been the subject of a number of research reports. Citigroup increased their price objective on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, April 10th. BNP Paribas reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Insiders Place Their Bets

In other news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

Comcast 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.