WASHINGTON TRUST Co Sells 15,333 Shares of Comcast Co. (NASDAQ:CMCSA)

WASHINGTON TRUST Co cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 260,537 shares of the cable giant’s stock after selling 15,333 shares during the period. WASHINGTON TRUST Co’s holdings in Comcast were worth $10,883,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Fairscale Capital LLC bought a new stake in shares of Comcast during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in Comcast during the second quarter valued at about $27,000. IAG Wealth Partners LLC grew its position in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the period. Finally, Archer Investment Corp lifted its position in shares of Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI dropped their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Scotiabank upped their target price on shares of Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a research note on Friday, October 18th. KeyCorp reduced their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Macquarie reissued a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Hold” and a consensus target price of $45.58.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.08 on Wednesday, hitting $42.15. The stock had a trading volume of 6,244,382 shares, compared to its average volume of 19,480,205. The company has a market capitalization of $165.38 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s 50 day moving average price is $40.59 and its 200-day moving average price is $39.50. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11.

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.