abrdn plc Sells 2,230,582 Shares of Comcast Co. (NASDAQ:CMCSA)

abrdn plc trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 41.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,097,673 shares of the cable giant’s stock after selling 2,230,582 shares during the period. abrdn plc’s holdings in Comcast were worth $135,833,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. NewSquare Capital LLC raised its position in Comcast by 94.1% during the 3rd quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after purchasing an additional 302 shares during the last quarter. Quilter Plc bought a new position in Comcast during the 1st quarter worth $695,100,000. Tennessee Valley Asset Management Partners bought a new position in Comcast during the 4th quarter worth $34,000. Fortis Capital Advisors LLC acquired a new stake in Comcast during the 4th quarter worth about $29,000. Finally, Lipe & Dalton acquired a new stake in Comcast during the 4th quarter worth about $37,000. 84.32% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CMCSA shares. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Oppenheimer reiterated an “outperform” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. BNP Paribas restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.74.

Comcast Stock Performance

Comcast stock traded up $0.62 during mid-day trading on Friday, reaching $40.24. The company’s stock had a trading volume of 24,227,565 shares, compared to its average volume of 19,806,908. Comcast Co. has a 12-month low of $36.38 and a 12-month high of $47.46. The company has a market capitalization of $159.83 billion, a P/E ratio of 10.82, a PEG ratio of 0.97 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s fifty day moving average price is $41.82 and its two-hundred day moving average price is $42.71.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 25th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The firm had revenue of $31.25 billion during the quarter, compared to analyst estimates of $30.41 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. Sell-side analysts predict that Comcast Co. will post 4.23 EPS 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.