Redmond Asset Management LLC Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

Redmond Asset Management LLC lowered its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,838 shares of the cable giant’s stock after selling 2,220 shares during the quarter. Redmond Asset Management LLC’s holdings in Comcast were worth $2,149,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CMCSA. Archford Capital Strategies LLC lifted its stake in shares of Comcast by 6.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 4,134 shares of the cable giant’s stock valued at $175,000 after purchasing an additional 240 shares during the last quarter. Ironwood Investment Counsel LLC lifted its stake in shares of Comcast by 0.5% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 51,524 shares of the cable giant’s stock valued at $2,178,000 after purchasing an additional 243 shares during the last quarter. SevenBridge Financial Group LLC lifted its stake in shares of Comcast by 0.6% in the 2nd quarter. SevenBridge Financial Group LLC now owns 41,429 shares of the cable giant’s stock valued at $1,752,000 after purchasing an additional 249 shares during the last quarter. Camarda Financial Advisors LLC lifted its stake in shares of Comcast by 8.1% in the 1st quarter. Camarda Financial Advisors LLC now owns 3,331 shares of the cable giant’s stock valued at $133,000 after purchasing an additional 250 shares during the last quarter. Finally, Mechanics Bank Trust Department lifted its stake in shares of Comcast by 1.8% in the 2nd quarter. Mechanics Bank Trust Department now owns 13,918 shares of the cable giant’s stock valued at $588,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

CMCSA has been the subject of several analyst reports. TD Securities raised their price objective on Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Guggenheim raised Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective for the company in a research note on Thursday, May 30th. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research note on Thursday. Goldman Sachs Group raised Comcast from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $54.00 in a research note on Wednesday, July 10th. Finally, Morgan Stanley increased their price target on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.44.

In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the transaction, the senior vice president now directly owns 4,712 shares in the company, valued at approximately $195,359.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.35% of the company’s stock.

Shares of NASDAQ CMCSA remained flat at $$42.37 during midday trading on Thursday. The stock had a trading volume of 5,434,042 shares, compared to its average volume of 17,327,420. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $43.39. Comcast Co. has a 12-month low of $32.61 and a 12-month high of $45.29. The company has a market cap of $192.71 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The firm had revenue of $26.86 billion for the quarter, compared to the consensus estimate of $27.08 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts expect that Comcast Co. will post 3.07 earnings per share for the current fiscal year.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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