Wells Fargo & Company Cuts Comcast (NASDAQ:CMCSA) Price Target to $45.00

Comcast (NASDAQ:CMCSA) had its price target reduced by analysts at Wells Fargo & Company from $46.00 to $45.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the cable giant’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 21.03% from the company’s previous close.

A number of other research analysts also recently issued reports on CMCSA. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie lifted their target price on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Barclays increased their price target on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.33.

Comcast Stock Down 0.8 %

CMCSA stock opened at $37.18 on Monday. The company’s 50 day moving average is $41.06 and its two-hundred day moving average is $40.29. Comcast has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market cap of $142.27 billion, a P/E ratio of 9.99, a PEG ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. Research analysts expect that Comcast will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMCSA. Fairscale Capital LLC acquired a new stake in shares of Comcast during the 2nd quarter worth about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Comcast during the third quarter worth approximately $30,000. McClarren Financial Advisors Inc. grew its stake in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares during the period. Iron Horse Wealth Management LLC raised its holdings in Comcast by 220.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 522 shares during the last quarter. Finally, Dunhill Financial LLC lifted its stake in shares of Comcast by 54.8% during the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock worth $34,000 after purchasing an additional 288 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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.