Wealthfront Advisers LLC Cuts Stake in Comcast Corporation $CMCSA

Wealthfront Advisers LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 18.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,080 shares of the cable giant’s stock after selling 57,531 shares during the quarter. Wealthfront Advisers LLC’s holdings in Comcast were worth $8,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of Comcast by 13.0% during the second quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock valued at $25,867,000 after purchasing an additional 83,631 shares during the period. Advisor OS LLC boosted its stake in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after purchasing an additional 8,841 shares during the period. Aberdeen Group plc boosted its stake in shares of Comcast by 5.4% during the second quarter. Aberdeen Group plc now owns 2,889,947 shares of the cable giant’s stock valued at $103,142,000 after purchasing an additional 147,231 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in shares of Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares during the period. Finally, Davidson Investment Advisors boosted its stake in shares of Comcast by 37.4% during the second quarter. Davidson Investment Advisors now owns 457,691 shares of the cable giant’s stock valued at $16,335,000 after purchasing an additional 124,484 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA opened at $29.42 on Tuesday. The stock has a fifty day simple moving average of $31.84 and a two-hundred day simple moving average of $33.48. 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 $108.62 billion, a price-to-earnings ratio of 4.86, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. Comcast Corporation has a 12-month low of $29.15 and a 12-month high of $45.31.

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 return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.34 billion during the quarter. Research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CMCSA shares. Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Royal Bank Of Canada began coverage on Comcast in a research note on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective for the company. The Goldman Sachs Group dropped their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Scotiabank reaffirmed a “sector perform” rating and issued a $45.50 price target (up previously from $45.00) on shares of Comcast in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.