Comcast Co. (NASDAQ:CMCSA) Position Reduced by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,386 shares of the cable giant’s stock after selling 7,288 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Comcast were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Comcast during the fourth quarter valued at approximately $3,835,226,000. Raymond James Financial Inc. acquired a new stake in shares of Comcast in the 4th quarter valued at $743,681,000. Amundi boosted 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 valued at $895,499,000 after purchasing an additional 14,369,056 shares in the last quarter. Capital World Investors lifted its position in Comcast by 8.6% during the 4th 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 period. Finally, Ameriprise Financial Inc. lifted its position in Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. The Goldman Sachs Group lowered their target price on Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Bank of America downgraded Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $38.00 in a research report on Friday, January 31st. Argus downgraded Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Sanford C. Bernstein set a $38.00 price objective on Comcast in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Comcast Stock Down 0.7%

Shares of NASDAQ CMCSA opened at $34.56 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31. The stock has a market capitalization of $129.04 billion, a P/E ratio of 8.33, a PEG ratio of 1.78 and a beta of 0.97. The stock’s fifty day moving average is $34.90 and its 200 day moving average is $37.42.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. Sell-side analysts forecast 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.