Institute for Wealth Management LLC. Sells 388 Shares of Comcast Co. (NASDAQ:CMCSA) (2024)

Posted by matt on Apr 20th, 2024

Institute for Wealth Management LLC. reduced its holdings in Comcast Co. (NASDAQ:CMCSA – Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,387 shares of the cable giant’s stock after selling 388 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Comcast were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CMCSA. Norges Bank purchased a new position in shares of Comcast in the 4th quarter worth about $1,798,173,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Comcast by 121,265.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock worth $892,799,000 after purchasing an additional 25,509,390 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Comcast by 15.2% in the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Comcast by 62.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock worth $715,028,000 after purchasing an additional 5,880,050 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Comcast by 535.8% in the 1st quarter. Renaissance Technologies LLC now owns 4,754,976 shares of the cable giant’s stock worth $222,628,000 after purchasing an additional 4,007,100 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday, April 10th. Citigroup increased their target price on Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Evercore ISI restated an “outperform” rating and set a $50.00 target price on shares of Comcast in a report on Tuesday, March 26th. Finally, BNP Paribas restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Tuesday, April 9th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.74.

View Our Latest Report on Comcast

Insider Transactions at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

Comcast Trading Up 1.6 %

NASDAQ CMCSA opened at $40.24 on Friday. Comcast Co. has a fifty-two week low of $36.38 and a fifty-two week high of $47.46. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day simple moving average of $41.82 and a two-hundred day simple moving average of $42.71. The stock has a market cap of $159.83 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.

Comcast (NASDAQ:CMCSA – Get Free Report) last announced its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The firm had revenue of $31.25 billion during the quarter, compared to analyst estimates of $30.41 billion. On average, analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Company Profile

(Free Report)

You might be interested in:

North Star Asset Management Inc. Sells 122 Shares of Vanguard Mid-Cap ETF

BMO Capital Markets Cuts Schlumberger Price Target to $64.00