Convergence Investment Partners LLC Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Convergence Investment Partners LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,510 shares of the cable giant’s stock after selling 10,740 shares during the quarter. Convergence Investment Partners LLC’s holdings in Comcast were worth $1,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Connecticut Wealth Management LLC acquired a new stake in shares of Comcast during the 3rd quarter valued at approximately $205,000. First Personal Financial Services acquired a new position in shares of Comcast during the 3rd quarter worth approximately $39,000. Lineweaver Wealth Advisors LLC acquired a new position in shares of Comcast during the 3rd quarter worth approximately $208,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Comcast by 1.8% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 32,691 shares of the cable giant’s stock worth $1,450,000 after acquiring an additional 588 shares during the period. Finally, Hemington Wealth Management grew its stake in shares of Comcast by 11.8% during the 3rd quarter. Hemington Wealth Management now owns 6,947 shares of the cable giant’s stock valued at $308,000 after buying an additional 732 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ:CMCSA traded up $0.70 on Friday, reaching $38.57. The stock had a trading volume of 29,783,241 shares, compared to its average volume of 21,514,964. The company has a market capitalization of $153.19 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.94 and a beta of 0.98. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $41.58 and a 200-day moving average price of $42.56.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts forecast that Comcast Co. will post 4.21 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CMCSA. Scotiabank decreased their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday. Citigroup upped their price objective on shares of Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Insiders Place Their Bets

In other Comcast news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.18% of the company’s stock.

Comcast Profile

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.