Searle & CO. Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Searle & CO. trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 70.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,130 shares of the cable giant’s stock after selling 16,740 shares during the period. Searle & CO.’s holdings in Comcast were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in shares of Comcast in the 2nd quarter worth $26,000. 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. IAG Wealth Partners LLC boosted its holdings in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares in the last quarter. Archer Investment Corp grew its stake in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Comcast during the second quarter valued at about $36,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research analyst reports. Evercore ISI dropped their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective on the stock. 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. Pivotal Research lowered their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.58.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.04 during mid-day trading on Wednesday, reaching $41.50. 2,850,262 shares of the stock were exchanged, compared to its average volume of 19,487,598. The company has a market capitalization of $162.83 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50 day moving average is $40.39 and its 200-day moving average is $39.44. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, equities research analysts forecast that Comcast Co. will post 4.23 EPS for the current fiscal year.

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.