Coastal Bridge Advisors LLC Invests $855,000 in Comcast Co. (NASDAQ:CMCSA)

Coastal Bridge Advisors LLC purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 22,791 shares of the cable giant’s stock, valued at approximately $855,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Comcast in the 4th quarter worth $3,835,226,000. Raymond James Financial Inc. bought a new stake in shares of Comcast during the 4th quarter worth about $743,681,000. Amundi raised its stake in shares of Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after buying an additional 14,369,056 shares in the last quarter. Capital World Investors lifted its stake in Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after buying an additional 5,402,377 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CMCSA shares. Barclays decreased their target price on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. KeyCorp reduced their price target on shares of Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Argus lowered Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.10.

Comcast Trading Down 0.3 %

Shares of Comcast stock opened at $34.39 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $128.40 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The stock has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $37.66. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. On average, sell-side analysts anticipate that Comcast Co. will post 4.33 earnings per share 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.