BTC Capital Management Inc. Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

BTC Capital Management Inc. cut its stake in Comcast Co. (NASDAQ:CMCSA) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,540 shares of the cable giant’s stock after selling 13,112 shares during the quarter. BTC Capital Management Inc.’s holdings in Comcast were worth $1,334,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CMCSA. Winch Advisory Services LLC lifted its holdings in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Comcast in the third quarter worth about $30,000. Iron Horse Wealth Management LLC increased its holdings in shares of Comcast by 220.3% during the third 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 in the last quarter. Finally, Dunhill Financial LLC raised its position in shares of Comcast by 54.8% in the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 288 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Comcast stock opened at $33.25 on Friday. The firm has a 50 day simple moving average of $38.80 and a 200-day simple moving average of $40.11. The stock has a market cap of $127.23 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. On average, analysts expect that Comcast Co. will post 4.25 EPS for the current year.

Analyst Ratings Changes

CMCSA has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. Wells Fargo & Company lowered their price target on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group cut their price objective on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Bank of America lowered shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $38.00 in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.89.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction on 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 in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction dated 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 owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This trade represents a 3.40 % 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.