Wealth Effects LLC Sells 1,475 Shares of Comcast Co. (NASDAQ:CMCSA)

Wealth Effects LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,256 shares of the cable giant’s stock after selling 1,475 shares during the period. Wealth Effects LLC’s holdings in Comcast were worth $679,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Capital World Investors grew its holdings in Comcast by 7.4% during the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the period. Dimensional Fund Advisors LP increased its holdings in Comcast by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after acquiring an additional 1,000,626 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after acquiring an additional 8,243,302 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Comcast by 25,881.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares in the last quarter. Finally, First Pacific Advisors LP boosted its position in shares of Comcast by 2.1% in the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock worth $423,633,000 after purchasing an additional 219,894 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 2.6 %

CMCSA stock traded down $1.08 during midday trading on Monday, reaching $40.85. 4,636,879 shares of the company traded hands, compared to its average volume of 19,516,344. The firm has a market capitalization of $160.28 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.10 and a beta of 1.01. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The business has a 50 day moving average of $40.30 and a 200-day moving average of $39.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, sell-side analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CMCSA shares. Evercore ISI lowered their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group started coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Pivotal Research cut their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.58.

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.