Sterling Investment Management LLC Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Sterling Investment Management LLC cut its position in shares of Comcast Co. (NASDAQ:CMCSA) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,856 shares of the cable giant’s stock after selling 735 shares during the period. Comcast makes up 1.2% of Sterling Investment Management LLC’s holdings, making the stock its 28th biggest holding. Sterling Investment Management LLC’s holdings in Comcast were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Koshinski Asset Management Inc. boosted its stake in shares of Comcast by 0.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after purchasing an additional 249 shares during the last quarter. Taurus Asset Management LLC boosted its position in Comcast by 2.9% during the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock worth $381,000 after acquiring an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in Comcast by 3.1% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after acquiring an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Comcast by 4.7% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after purchasing an additional 260 shares during the period. Finally, Saxon Interests Inc. boosted its holdings in shares of Comcast by 2.0% during the third quarter. Saxon Interests Inc. now owns 13,554 shares of the cable giant’s stock worth $566,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Comcast from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Evercore ISI raised Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.33.

Comcast Price Performance

NASDAQ CMCSA opened at $36.97 on Wednesday. The company has a 50-day moving average price of $39.81 and a two-hundred day moving average price of $40.18. The stock has a market cap of $141.47 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 52 week low of $36.15 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. Comcast’s revenue was up 6.5% compared to the same quarter last year. Analysts forecast that Comcast Co. will post 4.25 EPS for the current year.

Insider Activity

In other news, CEO Brian L. Roberts sold 234,464 shares of the business’s 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 sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares of the company’s stock, 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. Insiders own 1.26% of the company’s stock.

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.