Cresset Asset Management LLC Sells 5,282 Shares of Comcast Co. (NASDAQ:CMCSA)

Cresset Asset Management LLC cut its stake in Comcast Co. (NASDAQ:CMCSAFree Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 560,071 shares of the cable giant’s stock after selling 5,282 shares during the period. Cresset Asset Management LLC’s holdings in Comcast were worth $24,559,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CMCSA. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after buying an additional 475,675 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast in the 4th quarter valued at $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Comcast in the 4th quarter valued at $34,000. Lipe & Dalton acquired a new stake in shares of Comcast during the 4th quarter worth about $37,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Comcast during the 4th quarter worth about $40,000. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent analyst reports. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Macquarie dropped their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Evercore ISI reiterated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Comcast in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $48.83.

Get Our Latest Stock Report on Comcast

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which is available through this link. 1.26% of the stock is owned by corporate insiders.

Comcast Stock Performance

Shares of CMCSA opened at $38.79 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46. The firm’s 50 day moving average price is $39.35 and its two-hundred day moving average price is $41.80. The firm has a market cap of $152.20 billion, a P/E ratio of 10.26, a PEG ratio of 0.97 and a beta of 1.00.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. Comcast’s payout ratio is 32.80%.

Comcast Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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