Stonegate Investment Group LLC Sells 3,185 Shares of Comcast Co. (NASDAQ:CMCSA)

Stonegate Investment Group LLC reduced its position in Comcast Co. (NASDAQ:CMCSA) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,431 shares of the cable giant’s stock after selling 3,185 shares during the quarter. Stonegate Investment Group LLC’s holdings in Comcast were worth $1,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Comcast by 6.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after purchasing an additional 1,717,762 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of Comcast by 5.4% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after purchasing an additional 822,936 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Comcast by 4.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock valued at $623,146,000 after purchasing an additional 676,920 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 1.6 %

Shares of CMCSA opened at $38.23 on Tuesday. Comcast Co. has a 1-year low of $36.15 and a 1-year high of $47.11. The firm has a market capitalization of $146.29 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.35 and a beta of 1.01. The firm’s 50-day moving average price is $39.31 and its 200-day moving average price is $40.18. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Sell-side analysts anticipate that Comcast Co. will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Morgan Stanley cut shares of Comcast from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $45.00 in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company decreased their price objective on Comcast from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Barclays increased their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.33.

Insiders Place Their Bets

In other news, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

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.