GRIMES & Co WEALTH MANAGEMENT LLC Trims Stock Holdings in Comcast Corporation $CMCSA

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its position in Comcast Corporation (NASDAQ:CMCSA) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,182 shares of the cable giant’s stock after selling 56,383 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Comcast were worth $4,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. Capital Research Global Investors grew its stake in Comcast by 46.1% in the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock worth $1,059,053,000 after purchasing an additional 10,633,206 shares during the period. State Street Corp grew its stake in Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after purchasing an additional 7,917,335 shares during the period. SG Americas Securities LLC grew its stake in Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after purchasing an additional 7,153,895 shares during the period. Two Sigma Investments LP grew its stake in Comcast by 1,356.2% in the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after purchasing an additional 6,105,867 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in Comcast by 554.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after purchasing an additional 4,240,876 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Comcast Trading Down 3.2%

Shares of NASDAQ:CMCSA opened at $25.39 on Friday. The company has a market cap of $90.71 billion, a P/E ratio of 5.00, a PEG ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a 1 year low of $25.35 and a 1 year high of $36.66. The stock’s fifty day moving average price is $29.08 and its 200-day moving average price is $28.93.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for 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%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Sell-side analysts expect that Comcast Corporation will post 3.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CMCSA shares. BNP Paribas Exane reduced their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Citigroup boosted their target price on Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a report on Friday, April 24th. Scotiabank boosted their target price on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.94.

Comcast Profile

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.