New York Life Investment Management LLC Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

New York Life Investment Management LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 1.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 629,698 shares of the cable giant’s stock after selling 10,940 shares during the period. New York Life Investment Management LLC’s holdings in Comcast were worth $27,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Envestnet Asset Management Inc. increased its position in Comcast by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock worth $446,303,000 after buying an additional 2,861,358 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Comcast by 43.3% during the third quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant’s stock worth $279,843,000 after buying an additional 1,907,973 shares during the period. SG Americas Securities LLC grew its holdings in shares of Comcast by 422.9% during the fourth quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant’s stock worth $73,616,000 after buying an additional 1,357,756 shares during the last quarter. Bank of New York Mellon Corp increased its position in Comcast by 3.5% in 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 acquiring an additional 1,229,374 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Comcast by 35.5% in 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 acquiring an additional 1,227,469 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 0.2 %

Shares of CMCSA stock traded up $0.09 on Wednesday, reaching $38.20. 19,736,438 shares of the stock were exchanged, compared to its average volume of 20,862,834. The stock has a market cap of $151.73 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $41.47 and a two-hundred day moving average of $42.47. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during 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%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. On average, research analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. BNP Paribas reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Tuesday, April 9th. Finally, Redburn Atlantic lowered Comcast from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $44.00 in a report on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

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.