Comcast Corp. (CMCSA) Shares Sold by Midwest Investment Management LLC
Midwest Investment Management LLC cut its position in shares of Comcast Corp. (NASDAQ:CMCSA) by 5.3% during the third quarter, Holdings Channel reports. The firm owned 25,553 shares of the cable giant’s stock after selling 1,435 shares during the period. Comcast Corp. makes up approximately 1.5% of Midwest Investment Management LLC’s holdings, making the stock its 29th largest position. Midwest Investment Management LLC’s holdings in Comcast Corp. were worth $1,695,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. D Orazio & Associates Inc. increased its stake in Comcast Corp. by 5.3% in the second quarter. D Orazio & Associates Inc. now owns 1,563 shares of the cable giant’s stock valued at $102,000 after buying an additional 79 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in Comcast Corp. by 64.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,605 shares of the cable giant’s stock valued at $105,000 after buying an additional 630 shares during the period. Oakworth Capital Inc. boosted its stake in Comcast Corp. by 24.0% in the second quarter. Oakworth Capital Inc. now owns 1,683 shares of the cable giant’s stock valued at $107,000 after buying an additional 326 shares during the period. Adirondack Trust Co. boosted its stake in Comcast Corp. by 25.1% in the third quarter. Adirondack Trust Co. now owns 1,671 shares of the cable giant’s stock valued at $111,000 after buying an additional 335 shares during the period. Finally, Cribstone Capital Management LLC bought a new stake in Comcast Corp. during the second quarter valued at approximately $115,000. 81.30% of the stock is owned by hedge funds and other institutional investors.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.90% during trading on Wednesday, reaching $69.51. The company’s stock had a trading volume of 11,504,500 shares. The firm’s 50-day moving average is $64.93 and its 200-day moving average is $65.14. Comcast Corp. has a 52-week low of $52.34 and a 52-week high of $70.28. The stock has a market cap of $166.33 billion, a P/E ratio of 20.39 and a beta of 1.08.
Comcast Corp. (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, October 26th. The cable giant reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.01. Comcast Corp. had a return on equity of 15.22% and a net margin of 10.65%. The firm had revenue of $21.32 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts forecast that Comcast Corp. will post $3.50 EPS for the current year.
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Several equities research analysts have recently commented on CMCSA shares. Barclays PLC restated an “overweight” rating and set a $70.00 price target on shares of Comcast Corp. in a research note on Thursday, September 22nd. Jefferies Group restated a “buy” rating and set a $77.00 price target on shares of Comcast Corp. in a research note on Friday, October 7th. Argus restated a “buy” rating and set a $81.00 price target on shares of Comcast Corp. in a research note on Tuesday, September 27th. Wunderlich restated a “buy” rating and set a $85.00 price target (up previously from $78.00) on shares of Comcast Corp. in a research note on Wednesday. Finally, Macquarie upgraded Comcast Corp. from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $69.00 to $77.00 in a research note on Monday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.69.
In other news, EVP Neil Smit sold 15,121 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $65.68, for a total value of $993,147.28. Following the completion of the transaction, the executive vice president now owns 66,289 shares in the company, valued at approximately $4,353,861.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur R. Block sold 1,023 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $65.75, for a total value of $67,262.25. Following the completion of the transaction, the executive vice president now owns 47,539 shares of the company’s stock, valued at approximately $3,125,689.25. The disclosure for this sale can be found here. 1.27% of the stock is owned by company insiders.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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