Meritage Portfolio Management Cuts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Meritage Portfolio Management lowered its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 137,768 shares of the cable giant’s stock after selling 1,085 shares during the quarter. Meritage Portfolio Management’s holdings in Comcast were worth $6,041,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Everett Harris & Co. CA grew its position in shares of Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after buying an additional 121,279 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares during the period. Altus Wealth Group LLC grew its holdings in shares of Comcast by 8.3% during the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after buying an additional 1,432 shares in the last quarter. PFG Advisors grew its holdings in shares of Comcast by 28.8% during the fourth quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after buying an additional 5,159 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Comcast in the third quarter valued at about $8,868,000. Institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In other news, President Michael J. Cavanagh sold 114,749 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.18% of the company’s stock.

Comcast Stock Up 2.1 %

Shares of CMCSA traded up $0.78 during trading hours on Friday, reaching $38.65. The company’s stock had a trading volume of 17,761,011 shares, compared to its average volume of 20,800,383. The firm has a market cap of $153.51 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 0.98 and a beta of 0.98. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average of $41.64 and a two-hundred day moving average of $42.61.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating 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 return on equity of 19.75% and a net margin of 12.66%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, research analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BNP Paribas reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. Citigroup lifted their target price on shares of Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Oppenheimer reissued an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Finally, Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 10th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.45.

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.