Analysts Set Comcast Corporation (NASDAQ:CMCSA) Price Target at $34.94

Shares of Comcast Corporation (NASDAQ:CMCSA) have been assigned an average rating of “Hold” from the twenty-six research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.94.

A number of research analysts recently commented on CMCSA shares. Pivotal Research downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. TD Cowen reduced their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and upped their price target for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Friday, April 24th.

Comcast Price Performance

CMCSA opened at $27.17 on Friday. The firm has a market cap of $97.74 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.80. Comcast has a fifty-two week low of $25.75 and a fifty-two week high of $36.66. The company’s 50-day moving average price is $29.39 and its 200 day moving average price is $29.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. As a group, sell-side analysts expect that Comcast will post 3.58 earnings per share for the current year.

Insider Activity at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Comcast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMCSA. Vanguard Group Inc. grew its stake in shares of Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. State Street Corp increased its holdings in shares of Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors raised its stake in shares of Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Dodge & Cox lifted its holdings in Comcast by 0.4% in the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after purchasing an additional 399,596 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Comcast by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the period. 84.32% of the stock is owned by institutional investors.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.