RNC Capital Management LLC Lowers Position in Comcast Corporation $CMCSA

RNC Capital Management LLC cut its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.1% in the second quarter, Holdings Channel reports. The fund owned 1,116,485 shares of the cable giant’s stock after selling 12,694 shares during the quarter. Comcast accounts for approximately 1.9% of RNC Capital Management LLC’s portfolio, making the stock its 25th largest position. RNC Capital Management LLC’s holdings in Comcast were worth $39,847,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cranbrook Wealth Management LLC lifted its position in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares during the last quarter. Global Trust Asset Management LLC lifted its position in shares of Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after buying an additional 671 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of Comcast during the first quarter valued at about $29,000. Ransom Advisory Ltd purchased a new stake in shares of Comcast during the first quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC lifted its position in shares of Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after buying an additional 686 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $29.40 on Thursday. Comcast Corporation has a twelve month low of $29.15 and a twelve month high of $45.31. The company’s 50 day moving average is $32.08 and its 200 day moving average is $33.58. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $108.55 billion, a PE ratio of 4.86, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.34 billion for the quarter. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CMCSA shares. Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Scotiabank restated a “sector perform” rating and set a $45.50 price objective (up previously from $45.00) on shares of Comcast in a report on Monday, October 6th. Royal Bank Of Canada began coverage on shares of Comcast in a report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective on the stock. Bank of America cut their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Finally, Citigroup restated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $39.76.

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.