Wealth Effects LLC Sells 1,475 Shares of Comcast Co. (NASDAQ:CMCSA)

Wealth Effects LLC reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,256 shares of the cable giant’s stock after selling 1,475 shares during the period. Wealth Effects LLC’s holdings in Comcast were worth $679,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Steph & Co. lifted its stake in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast in the 2nd quarter worth approximately $27,000. IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares in the last quarter. Finally, 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 worth $30,000 after buying an additional 570 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

CMCSA traded down $1.08 on Monday, reaching $40.85. 4,636,879 shares of the stock were exchanged, compared to its average volume of 19,516,344. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm has a market capitalization of $160.28 billion, a PE ratio of 11.09, a PEG ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day moving average price is $40.30 and its 200 day moving average price is $39.44.

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

Analyst Ratings Changes

CMCSA has been the topic of several recent research reports. Macquarie reaffirmed a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Pivotal Research reduced their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective for the company. 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. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and a consensus price target of $45.58.

Comcast 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.