Motco Cuts Position in Comcast Corporation $CMCSA

Motco lessened its holdings in Comcast Corporation (NASDAQ:CMCSA) by 63.2% during the second quarter, Holdings Channel.com reports. The firm owned 125,498 shares of the cable giant’s stock after selling 215,087 shares during the quarter. Motco’s holdings in Comcast were worth $4,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC grew its holdings in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Cranbrook Wealth Management LLC grew its holdings in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the period. Ransom Advisory Ltd purchased a new stake in Comcast in the first quarter worth about $29,000. Abound Financial LLC purchased a new stake in Comcast in the first quarter worth about $29,000. Finally, Princeton Global Asset Management LLC grew its holdings in Comcast by 403.5% in the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after purchasing an additional 686 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.5%

Shares of CMCSA stock opened at $29.28 on Wednesday. Comcast Corporation has a 12-month low of $29.13 and a 12-month high of $45.31. 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 firm’s 50 day moving average is $31.75 and its 200 day moving average is $33.45. The stock has a market capitalization of $108.11 billion, a P/E ratio of 4.84, a P/E/G ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) 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. Research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CMCSA shares. Rosenblatt Securities cut their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. The Goldman Sachs Group lowered their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Loop Capital lowered their price objective on Comcast from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group set a $43.00 price objective on Comcast in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.52.

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.