Comcast Co. (NASDAQ:CMCSA) Shares Sold by abrdn plc

abrdn plc decreased its position in Comcast Co. (NASDAQ:CMCSA) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,097,673 shares of the cable giant’s stock after selling 2,230,582 shares during the quarter. abrdn plc owned about 0.08% of Comcast worth $135,833,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ironwood Wealth Management LLC. raised its position in shares of Comcast by 2.4% during the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock worth $724,000 after purchasing an additional 363 shares during the period. United Bank raised its position in shares of Comcast by 17.4% during the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock worth $1,745,000 after purchasing an additional 5,532 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Comcast by 29.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock worth $190,261,000 after purchasing an additional 928,627 shares during the period. Covestor Ltd raised its position in Comcast by 104.4% during the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock valued at $163,000 after buying an additional 1,773 shares during the period. Finally, First Western Trust Bank purchased a new stake in Comcast in the 1st quarter worth about $482,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity

In other 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 value of $5,289,928.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Comcast Price Performance

CMCSA traded up $0.62 during trading on Friday, hitting $40.24. The company’s stock had a trading volume of 24,227,565 shares, compared to its average volume of 19,806,908. The firm’s 50 day moving average price is $41.82 and its two-hundred day moving average price is $42.71. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12 month low of $36.38 and a 12 month high of $47.46. The stock has a market capitalization of $159.83 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CMCSA shares. Oppenheimer reissued an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday, April 10th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Rosenblatt Securities raised their price target on Comcast from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.74.

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.