Grimes & Company Inc. Purchases 844 Shares of Comcast Co. (NASDAQ:CMCSA)

Grimes & Company Inc. boosted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 197,057 shares of the cable giant’s stock after buying an additional 844 shares during the quarter. Grimes & Company Inc.’s holdings in Comcast were worth $8,231,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in Comcast during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in Comcast in the 2nd quarter valued at about $27,000. IAG Wealth Partners LLC raised its holdings in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the period. McClarren Financial Advisors Inc. increased its stake in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the period. Finally, Archer Investment Corp increased its stake in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

CMCSA traded up $0.07 during trading on Thursday, hitting $41.62. The company’s stock had a trading volume of 540,511 shares, compared to its average volume of 19,461,453. The firm’s 50 day moving average price is $40.44 and its two-hundred day moving average price is $39.45. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a market capitalization of $163.30 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. Sell-side analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMCSA. KeyCorp decreased their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Pivotal Research decreased their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $45.58.

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.