Convergence Investment Partners LLC Sells 10,740 Shares of Comcast Co. (NASDAQ:CMCSA)

Convergence Investment Partners LLC lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 24.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,510 shares of the cable giant’s stock after selling 10,740 shares during the quarter. Convergence Investment Partners LLC’s holdings in Comcast were worth $1,426,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMCSA. Envestnet Asset Management Inc. increased its stake in Comcast by 39.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock valued at $446,303,000 after purchasing an additional 2,861,358 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Comcast by 43.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant’s stock valued at $279,843,000 after purchasing an additional 1,907,973 shares in the last quarter. SG Americas Securities LLC increased its stake in Comcast by 422.9% during the 4th quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant’s stock valued at $73,616,000 after purchasing an additional 1,357,756 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Comcast by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock valued at $1,603,786,000 after purchasing an additional 1,229,374 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Comcast by 35.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,689,476 shares of the cable giant’s stock valued at $207,931,000 after purchasing an additional 1,227,469 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup lifted their price objective on shares of Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. BNP Paribas reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Tuesday, April 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Friday. Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, April 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Insider Activity

In related news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is owned by corporate insiders.

Comcast Stock Up 1.8 %

Comcast stock traded up $0.70 during trading hours on Friday, hitting $38.57. The stock had a trading volume of 29,783,241 shares, compared to its average volume of 21,514,964. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $153.19 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.94 and a beta of 0.98. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The stock’s 50-day moving average price is $41.58 and its 200-day moving average price is $42.56.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. Equities research analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal 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.