Fortitude Family Office LLC Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Fortitude Family Office LLC reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 17.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,654 shares of the cable giant’s stock after selling 355 shares during the period. Fortitude Family Office LLC’s holdings in Comcast were worth $69,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Ontario Teachers Pension Plan Board raised its holdings in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after acquiring an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the period. Capital World Investors increased its stake in Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after buying an additional 4,714,586 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Comcast by 92.1% in the 2nd quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after buying an additional 4,182,525 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

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

Comcast Trading Up 0.5 %

Shares of CMCSA opened at $42.07 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a market cap of $165.07 billion, a PE ratio of 11.13, a P/E/G ratio of 1.10 and a beta of 1.01. The stock’s 50-day moving average is $40.59 and its two-hundred day moving average is $39.50.

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.